1) Provide Depreciation on old Machinery:-
Depreciation A/c Dr XXX
To Old machineryA/c XXX
2) On Purchase of New machinery:-
New Machinery A/c Dr XXX
To Cash A/c XXX
To Old Machinery A/c XXX
Ok..but actually i have to calculate the profit/loss on the sale of asset too.
Dear Member,
Machinery A/c Dr.
To Cash / Bnak A/c
Dear Member,
Macchinery A/c Dr.
To Cash / Bnak A/c
CAclubindia
