sale of motor car/JV pass method
This query is : Resolved
Abhijit Dutta
(Querist)
27 December 2010
Dear sir,
please solve my following accounting problem:-
Opening Balance of Motor car = Rs.1,73,514/= and sale of Motor car Rs.1,40,000/=(including vat Rs.5,385/=)
I want to know what is the JV entry and how much depreciation figure. any profit/Loss.
thank you
please solve my following accounting problem:-
Opening Balance of Motor car = Rs.1,73,514/= and sale of Motor car Rs.1,40,000/=(including vat Rs.5,385/=)
I want to know what is the JV entry and how much depreciation figure. any profit/Loss.
thank you
CMA Ramesh Krishnan
(Expert)
27 December 2010
Dr:Bank/ (Debtor- Incase credit sale)
Dr:Provision for Depreciation- Motor car
Cr:Loss of sale of Motor car(140000-dep-vat-173514)
Cr:VAT payable ( Rs.5385)
Dr:Provision for Depreciation- Motor car
Cr:Loss of sale of Motor car(140000-dep-vat-173514)
Cr:VAT payable ( Rs.5385)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Rent agreement of House of deceased person
- GST ITC as per notification 12/2023- central tax
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- LLP audit and disclosure
- Applicability of tax on invoice
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
