Depriciation entry
This query is : Resolved
02 January 2013
Dear Sir,
purchase price of my plant & machinery is Rs.100000/- bookvalue of it is Rs.60000/- and sale value of it is Rs.120000/- then RS.20000/- capital profit where i can transfer in case of Individual?????? reserve & surplus are not in the balancesheet then where I transfer it??????
purchase price of my plant & machinery is Rs.100000/- bookvalue of it is Rs.60000/- and sale value of it is Rs.120000/- then RS.20000/- capital profit where i can transfer in case of Individual?????? reserve & surplus are not in the balancesheet then where I transfer it??????
CA Priyank Singhi
(Expert)
02 January 2013
As per my my view point the entire profit should be credited to PL A/c as AS 10 does not mention anything for such an instance.
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