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Sale of asset

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(Querist)
28 February 2012 Dear Sir kindly tell me about sale of asset treatmentin accounts with example
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02 March 2012 The stepwise treatment is as follows- 1. Charge depreciation for period of use during current year i.e. from date of purchase/ 1st april to datet of sale. 2. Then find out profit/loss by deducting depreciation, other expenses related to sale, etc from sale value.
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