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Reserves and Surplus
Sold machinery whose cost is Rs.10000 for Rs.9000 whose book value Is Rs.8000 and 1000 be transferred to capital Reserve.
Replies (8)
1k to account in PandL account as Ledger - Profit on Machinery
( Are You Company or other than company..?)
( Are You Company or other than company..?)
Company
Of Pvt Ltd company then after finalize the account (PandL) the amount transferred to R&S head...
Which reserve is it capital and can u say the journal entry
Its capital reserve.
Will they first pass profit entry then will they pass it to capital reserve.
Rs. 1000 credited to profit and loss account
Yes... I agreed to Mr Satish.
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