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Pass journal entry of it

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 January 2013 X ltd Co. owned an asset as under:

cost of asset 50000/-
Accumulated depriciation on Asset Rs 20480/-
the asset was sold Rs. 18000/-


please make Accounting entry
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 January 2013 Dr: Bank Rs.18000
Dr: Acc. Depreciation Rs.20840
Dr: Loss on sale of asset Rs.11160
Cr: Fixed asset Rs.50000
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 January 2013 Thanks a lot
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