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Selling Second Hand Car innova
What is the Accounting entry for Selling second car innova to a party. on July month.Last year closing balance is 450000 as on 31.03.18 and how depreciation calculated for this year.Explain with accounting entries.thks
Replies (1)
Depreciation wont be calculated on that part of block of asset which is deleted
Entry will be bank account debit, PNL / capital account debit (in case of loss) to car account and capital / PNL account in case of profit.
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