COST OF ASSETS 250000
ACCUMULATED DEPRECIATION 115000
SELLING PRICE 137500
PASS ENTRY FOR THE SALE OF ASSET.
Answers were Sorted based on User's Feedback
Answer / abhishek jain
bank a/c dr 137500
To profit on sale of assests a/c 2500
To sale of assest 135000
Is This Answer Correct ? | 11 Yes | 1 No |
Answer / v.s.sujith
Bank A/c Dr 137500
To sale of assets 135000
To Profit on sale of assets 2500
Being sale of assets.
Detil:
COA- 250000
-Dep 115000
= 135000
-Sale 137500
=Profit. 2500
Is This Answer Correct ? | 3 Yes | 0 No |
what is E.S.I, P.F rates and working notes
what the procedure of filing mvat pls. explain in briefly ?
The value of the tax invoice is lesser than the value on the state permit. Is this acceptable.
What is the limitation for loan from pvt ltd company to other sole proprietor company suppose 25 lakhs given. what is the rule at the time of income tax point of view. Please clarify anybody....
WHAT IS CORPORATE TAX ?
HOW CALCULATE PARTERNERSHIP FIRM INCOME TAX ON NET PROFIT.
What is Sale tax Assessment? When it required ? what is the basic query's to do this??????????
wat is 80c Deductions?
sir we did not pay tds in due date what is the rate of interest after due date how much percentage we have to pay interest
Company should deduct TDS or not if Company is paying the amount directly to the Sub-Contractor by Debiting the A/c of Contractor and Crediting the A/c of Sub-Contractor ?? Rate??
At what rate firms are required to pay tax on their income?
We have sales some items to our customer 4 yr. before and he is refusing to issue C form so, what can i do.