Sale of asset
This query is : Resolved
28 February 2012
Dear Sir kindly tell me about sale of asset treatmentin accounts with example
Guest
Guest
(Expert)
02 March 2012
The stepwise treatment is as follows-
1. Charge depreciation for period of use during current year i.e. from date of purchase/ 1st april to datet of sale.
2. Then find out profit/loss by deducting depreciation, other expenses related to sale, etc from sale value.
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