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Honda car dr 11556 purchase 25/08/2010
to bank cr 4100
to loan cr 7456
Installment paid upto 31/7/2012 @ 207/-pm (total 4761/-)
Loan Bal. 2695/-
Car was cancelled due to accident in June-2012.
Finance company refunded 6656/-(15/08/2012)
Total accumulated depreciation was 5202.318.
what will be the Car write-off entry..??
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Answer Posted / rehan
is the answer correct...? any senior accountant, who can
reply please....
| Is This Answer Correct ? | 2 Yes | 0 No |
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I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
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