please suggest me how to book entry in tally if i received cash by selling old vehilce.
3 Replies
riya shah
(93 Points)
Replied 21 September 2020
Cash / bank a/c debit
to vehicle a/c.
if profit or loss has been generated then trf the balance to statement of P/L
to vehicle a/c.
if profit or loss has been generated then trf the balance to statement of P/L
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 22 September 2020
Cash A/c Dr
Deprecation A/c Dr
Profit & Loss A/c Dr
To Vehicle A/c Cr
( Vehicle sold in cash loss on sale transfer to P&L )
If Profit on sale of Vehicle , then P&L account will be credited .
Recent Topics
- PREFERENCE SHARES - NBFC
- Vivad se vishwas scheme 2024
- List of banks for tax payments available at e-Pay
- Excess itc claimed then intrest applicable even if
- Financing for Properties and Businesses
- TAX DEMAND STILL SHOWING ON INCOME TAX PORTAL, EVE
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
Related Threads
CAclubindia
