Head of account (sale of office furniture)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 please let me know,,in which account is sale of office drawers taken into account.
our company had some drawers in office,,so they sold them and got cash..

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2014 company had some furniture (office drawers) was lying idle in the office, so we sold it out and got cash..so to which Income head this cash received should be taken into account.please someone reply asap

Vishnu Saboo

Vishnu Saboo (Expert)
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13 May 2014 if it was capitalized, you have to credit the same in asset a/c,and have to book profit or loss in P&L account namely profit & loss on sale of fixed asset. and if not so then you may book it in income from non operational activity.

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