A company has sold some old machinery for 1crore. the details of the cost of such machinery are not available since the entire recording relating to fixed asset has been destroyed in on earthquake!!
how to treat it??
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Accounting Standard 10 📚
Replies (2)
Treat it as a gain.....
@ priya
not possible.
How can u say there is again on such sale of machinery ?
I understand it's been destroyed.
But a realistic estimate should be shown as disclosure for such assets in financial statements.
notes to accounts...
not possible.
How can u say there is again on such sale of machinery ?
I understand it's been destroyed.
But a realistic estimate should be shown as disclosure for such assets in financial statements.
notes to accounts...
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