Hello,
If the sale of value of fixed asset is more than purchae value of asset, what is the accounting treatment other than profit recognition?
Pankaj Arora
(Learner)
(3134 Points)
Replied 03 March 2011
that means its profit you have to transfer balance in P & L account as income.
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 03 March 2011
You have to account the same under profit on sale of asset head.
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