Easy Office
LCI Learning

Revalued fixed asstes sale entries

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
25 January 2013 land original cost - 100/-
Revalued - 50/-
-----------
150/- shown in Land B/S assts side

50/- in capital reserve - liability side

on sale value of Rs. 200/-

How to a/c for profit & wt will be the entries?

Pls reply urgently.

Thanks
Profile Image

Sumit Grover

Profile Image

Sumit Grover (Expert)
25 January 2013 Bank(Or Party) A/c Dr. 200
Capital Reserve A/c Dr.50
To Land 150
To Gain on sale 100

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links