for fixed assets sale entry

This query is : Resolved

nirmal singh (Querist)
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17 January 2013 Hi, please make me kindly conform.

I had a property which was cost Rs. 1,00,000 in my book and sold it Rs 2,00,000. I received three cheques of Rs. 1,00,000 and two cheques of Rs. 50,000. so please let me know how to make entry in tally for these cheques. And in which voucher I will have to use.

CA Priyank Singhi

CA Priyank Singhi (Expert)
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19 January 2013 Bank A/c Dr 100000
Cash A/c Dr 100000
To Asset a/c 100000
To Profit on sale of Asset 100000

You will have to pass this entry as a Journal voucher.