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Machinery of Rs. 40000 was sold for Rs. 52000. Depreciation provision to date was Rs. 4000; and commission paid to selling agent was Rs. 3200 and wages paid to the worker for removing the machine was Rs. 500. please pass JE.
Replies (4)
J.E will be
Bank a/c Dr 52000
Depreciation a/c Dr. 4000
To Machinery a/c Cr 40000
To profit on sale 16000
( being machine sold , profit transfer to P& L )
Bank a/c Dr 52000
Depreciation a/c Dr. 4000
To Machinery a/c Cr 40000
To profit on sale 16000
( being machine sold , profit transfer to P& L )
| Originally posted by : prasad Nilugal | ||
 |
J.E will be Bank a/c Dr 52000Depreciation a/c Dr. 4000To Machinery a/c Cr 40000To profit on sale 16000( being machine sold , profit transfer P&L ) |  |
Correct entry given bellow
1) Bank A/c Dr 52000
Depreciation A/c Dr 4000
To Machinery A/c 40000
To profit on sale 16000
( Being machinery sold profit transfer to P&L)
Commission A/c Dr 3200
Wages A/c Dr 500
To Bank A/c Cr 3700
( Expense towards sale of machinery )
depreciation based on original cost of machinery
@ Mr. Ravi Dasar.,
What / Which percentage of Depreciation you are calculated in that Machinery...?
What / Which percentage of Depreciation you are calculated in that Machinery...?
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