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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2010 Journal entery of

sale of plant costing 12000(book value 5000) at 60% profit on book value.
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CA.Madhusudan B.P.

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CA.Madhusudan B.P. (Expert)
05 December 2010 Dr Cash / Bank Rs.8000
Dr Dep Reserve Rs.7000
Cr Plant Rs.12000
Cr Profit on Sale of Plant Rs 3000

Being sale of plant & profit booked
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CA Punit

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CA Punit (Expert)
06 December 2010 or..

Dr. Cash/Bank Rs. 8000
-
Cr. Plant Rs. 5000
Cr. Profit on sale of Plant Rs. 3000
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