Loss on sale of fixed asset
This query is : Resolved
06 January 2011
Hi all
A Companys annual A/cs are showing the LOSS ON SALE OF FIXED ASSET in Profit and Loss A/c, is it correct becz it is a capital loss then why it is being treated in the Profit and Loss A/c, please clear the things at the earliest.
A Companys annual A/cs are showing the LOSS ON SALE OF FIXED ASSET in Profit and Loss A/c, is it correct becz it is a capital loss then why it is being treated in the Profit and Loss A/c, please clear the things at the earliest.
06 January 2011
Since it is the ordinary course of business.
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