Interested to Buy Any Domain ? << Click Here >> for more details...
we are selling a device for 6000 and the company want to
replace that device with a new device which is a bit more
than the prior price say 7000. how we can account this?
- 1 Answers
- 4135 Views
- Calsoft, I also Faced
- E-Mail Answers
Answer Posted / ananth.r
First we need to write-off the old asset ( by reversing the
asset, accumulated depreciation and depreciation for the
current FY by Cr the Fixed asset Write-off and Dr
Proft/Loss on sale of asset under P&L account )
Next we can capitalised the new asset ( Dr. Asset Cr. Bank )
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Purchase Goods worth rs.1000/ icluding vat of rs 40/ & Service charge receive 1000/ including service charge rs 123.60/ What will be entry in Tally? Please Define me?
What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
Payment Blocks . What is "A" and "R" Blocks in Account payables.. ??
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
what is cost unit n what is cost sheet?
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
were you happy with the grades you achieved at a-level?
hai everone,can anyone send me the accounting ,finance,general interview questions for mba freshers plz.....urjent
what is the deference between depreciation explanation
What is mutual fund sub accounting?
Knowing what you know now, walk me through what you would do differently to drive even more success?
What is a ledger in regards to accounting?
Please explain what do you do to increase revenues? What are your tactics, techniques, and sales methods?
