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any example should cover all three types of account in one
entry
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My dear friend, U asked a rare but good question.
U can find a situation where a fixed asset of Rs. 100000
gross cost (on which Rs. 45000 depreciation was claimed till
year of sale). Hence, its WDV is Rs.55000. Now it is being
sold to Mr.X for Rs.75000.
Entry is:
Mr.X (Personal A/c) Dr. 75000
Accumulated Depreciation (Rep. Personal A/c)Dr. 45000
To Fixed Asset (Real A/c) 100000
To Profit on Sale of Fixed Asset (Nominal A/c) 20000
Readers might be aware that Prefixed or Suffixed nominal a/c
is a representative personal a/c. Hence, Accumulated
Depreciation A/c is considered as Representative Personal A/c.
| Is This Answer Correct ? | 2 Yes | 0 No |
what is contingent liabillity ?
whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf
loan a/c is blong to which a/c acc. to golden rule
If we can write Credit to cr. so why we can`t write Debit to Dt. or De. why we write it Dr.?
WHY U HAVE CHOOSE ICWA WHY NOT CA
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