A business unit disposes an old asset at a rate higher than
its written down value. Then how it will be recorded and
under what head of income
Answer / srinivas annavarapu
The entry will be
Bank a/c DR
TO Profit on sale of Asset
TO Machinery a/c
and it comes under capital income
Is This Answer Correct ? | 4 Yes | 1 No |
what is accounting standard?
plz send me the apptitude question papers of wipro
What is ASAP methodology
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
how are the items of the p& l linked to the items in the balance sheet
Is Entry Tax is applicable on consumable goods purchased Against C Form @ CST 2%
can anyone give the journal entry with the amount 10 tv bought in the business for 1000 each, out of which one is installed.
34 Answers Capital IQ, Genpact,
WHY LOSS IN BUSINESS IS SHOWN IN ASSETS SIDE OF BALANCE SHEET? WHY EXCISE DUTY IS DEDUCTED FROM THE GROSS SALES TO ARRIVE NET SALES? WHY SALES TAX IS NOT DEDUCTED FROM SALES TO ARRIVE NET SALES?
what is serviuce tax,how to calculate service tax?
what is the difference between cash flow and fund flow?
what is meant by transposition error
EXPAND_________VTPS