10 January 2017
I had a property of rupees 8 lakh(purchase date 22/03/2008)
I sold my property of rupees 19 lakhs (sale date 24/08/2016)
I want to pass entry in my Balance sheet for A.Y-17-18.
plz help me
10 January 2017
(Assuming entire money is received on sale date) debit cash/bank (as the case may be)....... 19 L credit property........ 8L credit profit on sale of property........ 11L
CAclubindia
