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sale entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2010 Sale of plant costing Rs 12,000/- (Book-Value Rs 5,000/-) at 60% profit on Book-Value.


So, please suggest me about right entry of above question ASAP.

I am waiting 4 ur kind response

Thanks & regards,

Rajesh Sharma
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 December 2010
Dr: Cash/Bank : 8000 ( 5000+60% profit)
Cr: Profit on sale : 3000
Cr: Plant : 5000
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