Profit sale of buildings
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 October 2012
Dear Sir,
Our Company Sold Buildings Sale Value of The Buildings Rs.54,00,000
But now Book Vale of Buildings in Capital assets Showing Rs.18,00,000,
How to take into the Accounting sale value?
Our Company Sold Buildings Sale Value of The Buildings Rs.54,00,000
But now Book Vale of Buildings in Capital assets Showing Rs.18,00,000,
How to take into the Accounting sale value?
CA Sourabh Agarwal
(Expert)
06 October 2012
Balance is profit to be taken to P & L account.
CA Ayush Agarwal
(Expert)
06 October 2012
Balance 36 Lacs Show That as "Profit on sale of assets".
If I Was Held as Investment, Then Show as "Gain on Investment".
Otherwise Profit on Sale of assets.
Entry:-
Bank Dr. 54 Lacs
to Building 18Lacs
to Profit on sale of Asset 36 Lacs
If I Was Held as Investment, Then Show as "Gain on Investment".
Otherwise Profit on Sale of assets.
Entry:-
Bank Dr. 54 Lacs
to Building 18Lacs
to Profit on sale of Asset 36 Lacs
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