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 Posted / 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 |
Post New Answer View All Answers
Short Answer on _________Accounts Receivable
what is ledger account
can anyone provide me the Balance Sheet Items & P & L Items with Accounting Heads with Accounting codes?
I work in a semi govt society. We purchased a flag for celebrating independence day in office premises . Plz tell me under what head / ledger of exp it comes
why do u want to join bpo sector
Meaning of portfolio management?
Telly ERP9 is perfect accounting softwear in excise unit.
What is the GDP growth?
i need sbi bank clerk exam model question papers
Prepare a trading account, profit and loss Account and Balance sheet form the following trail balance and other adjustments as on 31.12.2009 Adjustments: 1. Closing stock R 7060 2. Allow interest on capital at 6% p.a 3. Insurance prepaid Rs 60 4. Depreciate Building and furniture at 10% p.a. 5. Wages due Rs 40 6. Provide 10% RBD and 5% on debtors and creditors 4. From
what is the use of special general ledger if the normal trasaction in usage.
what is the meaning of call in arear
With scan-based trading, are retail companies creating inventory at the point of sale or recording income/expense?
What is meant by Revenue Loss
Expand----------MTSC