Answer / guest

furniture is effect asset side isto deduted old furniture

Answer / syed rizwan ahmed

Debit "Exp. & Revenue Summary A/c
Credit "Furniture A/c"
Effect on Balance Sheet
Fixed Assets decreases (Assets Side)
Retained Earning decreases (Liabilities Side)

Answer / jeevan kamble

there should be 2 effects!
1. P&L A/C debit site
2. asset side (less from furniture )

Answer / gnaneshwar

it will be shown in asset side

Answer / geetanjali

debit side. coz its a loss

Answer / shweta.naik

it asset side

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