A/c entry for exchange purchase of fixed asset???????

CA Parth Verma (NYU Stern Alumni ) (90 Points)

20 June 2011  

hi frnds....

kindly give me explaination for a/c entry with regards to foloowing case....

we have a asset with a wdv of 20...... we puchase a new asset of 200 and exhange old one  and pay only 150....

that means the mkt value of old asset is 50.....

 

pls give me explaination on above...

thanks in advance:::__)))))