08 November 2010
Hello Experts Happy Diwali I have one entry for sale of car in the private ltd co. I have done the entry in this manner. Kindly advise if it is right or wrong.
Car A/c Dr 250000/- Sale of Car A/c Cr 250000/- Being amt of sale proceeds. Sale of Car A/c Dr 51530/- Profit on Sale of Car Cr 51530/- Being amt of profit on sale. the value of car is for Rs.198470/- as per books of accounts as at 1/4/10. Kindly advise. It is urgent. thanks and regards sanjay