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Purchased new AC in exchange of old

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2011 We had a AC whose WDV as on 30.04.2010 was 10000 and in exchange for the old one we purchased a new ac for 18000 and we made the dealer payment of Rs 8000. Please explain how will be the entry passed.

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Pankaj Gandhi Jaiswal

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Pankaj Gandhi Jaiswal (Expert)
05 June 2011 Assume company carry WDV figure in balance sheet and not Gross Block.

NEW AC 18000
To Old AC 10000
To Cash 8000
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