Entry for sale of vehicle
This query is : Resolved
08 November 2010
Hello Experts
Happy Diwali
I have one entry for sale of car in the private ltd co. I have done the entry in this manner. Kindly advise if it is right or wrong.
Car A/c Dr 250000/-
Sale of Car A/c Cr 250000/-
Being amt of sale proceeds.
Sale of Car A/c Dr 51530/-
Profit on Sale of Car Cr 51530/-
Being amt of profit on sale.
the value of car is for Rs.198470/- as per books of accounts as at 1/4/10.
Kindly advise. It is urgent.
thanks and regards
sanjay
Happy Diwali
I have one entry for sale of car in the private ltd co. I have done the entry in this manner. Kindly advise if it is right or wrong.
Car A/c Dr 250000/-
Sale of Car A/c Cr 250000/-
Being amt of sale proceeds.
Sale of Car A/c Dr 51530/-
Profit on Sale of Car Cr 51530/-
Being amt of profit on sale.
the value of car is for Rs.198470/- as per books of accounts as at 1/4/10.
Kindly advise. It is urgent.
thanks and regards
sanjay
08 November 2010
Calculate and charge depreciation upto the date of sale. The profit figure will change accordingly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
