Fixed assets

This query is : Resolved

jitendra (Querist)
Follow

19 September 2014 we have sold some assets as scrap rs. 5,00,000 but we don't know as on date what are depreicated value as per our books because they were bought around 10-12 years ago and we don't have any fixed assets records of that years (assets wise ), pls suggest us how can i accounted it in our books of acccounts , can i show sale value under other income as scrap sale on that assumption we had clim full depreication on these assets and as per books its value is Nil

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 September 2014 Treat it as scrap sale and group it under sales.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

19 September 2014 it will be shown as other income and not as sales as selling scrap asstes are not ur main business

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Arun Mahaldar

Rishi Jain

Shubham Jain

SUBHASH SAHA

Sunder Sadani

Subscribe Now

Fixed assets

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

Manager- Finance and Compliance

Accountant

Senior Executive

GST CONSULTANCY