Surplus from sale of fixed assets
This query is : Open
08 June 2016
My query is whether profit/surplus from sale of fixed assets whose written down value has become nil can be transferred to 'Capital Reserves'.
08 June 2016
value excess from the nominal value (purchase price) will tfr to capiltal reserve and balance transfer to profit & lkoss a/c .
08 June 2016
Thank you Rupesh Sir for your valued opinion.
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