Interested to Buy Any Domain ? << Click Here >> for more details...
Computer value 5000
Deprecation 3000
Book vale 2000
Sold for 2000
Pass entry?
- 16 Answers
- 18305 Views
- FIC, I also Faced
- E-Mail Answers
Answer Posted / thimmappa poojari
Cash account debit 2000/-
Provision for depreciation account debit 3000/-
Computer account credit 5000/-
(being sale of comupter at no loss / no profit. Comupter
purchse value aed 5000/-, Book value of computer aed 2000/-
after depreciation of aed 3000/- alreday effected to P&L)
Note : the word should be provision for depreciation and
not just depreciation.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
what is core accounting?
i WANT TO KNOW WHAT IS THE INTEREST RATE IF WE CAN NOT PAY THE DEPOSIT SALE TAX AMOUNT WITH IN PERIOD
PROVIDENT FUND TO BE CALCULATED ON BASIC AFTER DEDUCTION OF ABSENTS (LOP)
Dear Sir I had already export to dubai. now I am to know that can I enter this sale entry in RG1. pls guide me.
What is departmental accounting? Give an example
why are accounting firms needed?
Can you send me advertisement format for lost of E-1 form. kindly do the needful urgently. Thanks AP
Can u please send me a set of accounting base questoin with answer,genraly ask by interviewer?
What are the functions of manger -accounts and manager-finance?
What are the criteria for accounting job?
how to treat investment fluctuation fund in case of death of a partner
What are the methods used in different industries for labor and non-labor costs in Projects.
A Lorry driver damaged shed shutter and we deduct 2000/- from his freight amount now what is the head for the Deducted amount?
Explain me some of the examples for liability accounts?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
