Sold old furniture to mohan for 800
This query is : Resolved
Neelesh Choudhary
(Querist)
13 October 2013
what will be j.e..??
CA Pallav Singhania
(Expert)
13 October 2013
Mohan A/c Dr. 800
To Furniture A/c 800
{Being furniture sold on credit}
Cash/Bank A/c Dr. 800
To Mohan 800
{Being cash received against sale of furniture}
To Furniture A/c 800
{Being furniture sold on credit}
Cash/Bank A/c Dr. 800
To Mohan 800
{Being cash received against sale of furniture}
14 October 2013
If payment made on spot then
Cash/Bank A/c...dr 800
To Furniture A/c 800
This entry is passed on assumption that the WDV is also 800 and there is no profit or loss in this transaction.
Cash/Bank A/c...dr 800
To Furniture A/c 800
This entry is passed on assumption that the WDV is also 800 and there is no profit or loss in this transaction.
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