Book value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2013
I purchased an Assets of Rs.50000/- and charged depreciation 20% for Full Year. I sold that Assets of Rs.42,000/- what is the Book Value of the Assets and Journal Entry. Please guide me.
17 January 2013
After depreciation book value of the asset is Rs 40000. The entry would be:
Bank A/c Dr 42000
To Asset 40000
To Profit on sale of Asset 2000
After this write off Profit on sale of asset to PL a/c
Bank A/c Dr 42000
To Asset 40000
To Profit on sale of Asset 2000
After this write off Profit on sale of asset to PL a/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
