Hello,
If the sale of value of fixed asset is more than purchae value of asset, what is the accounting treatment other than profit recognition?
2 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 03 March 2011
that means its profit you have to transfer balance in P & L account as income.
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 03 March 2011
You have to account the same under profit on sale of asset head.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
