Vehicle purchased
This query is : Resolved
28 March 2015
dear sir,
we have purchased vehicle in exchange of another vehicle.bool value is high & we sell vehicle lower price.how to pass general entries.
we have purchased vehicle in exchange of another vehicle.bool value is high & we sell vehicle lower price.how to pass general entries.
28 March 2015
New vehicle ac dr
Loss on sale of assets ac dr
(difference between book value and sale value considered for exchange)
To Old vehicle ac (book value) cr
To Bank ac cr
Loss on sale of assets ac dr
(difference between book value and sale value considered for exchange)
To Old vehicle ac (book value) cr
To Bank ac cr
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