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Question 
If I sale old fixed assets then what will be its entry passed. 
In loss as well as in Profit condition. Plz. advised me with 
example.
 Question Submitted By :: Rana
I also faced this Question!!     Rank Answer Posted By  
 
  Re: If I sale old fixed assets then what will be its entry passed. In loss as well as in Profit condition. Plz. advised me with example.
Answer
# 1		 DABIT THE FIXED ASSTETS AND CREDITED THE SUM RECEIVRD AGAINST SELL OF OLD FIXED ASSETS 
Is This Answer Correct ?    1 Yes 3 No
Sarat Kumar Kar
 
  Re: If I sale old fixed assets then what will be its entry passed. In loss as well as in Profit condition. Plz. advised me with example.
Answer
# 2		 if loss on sale

cash/ Bank a/c Dr.
P&L a/c ( if loss) Dr.
fixed assets Cr.


If loss on sale

cash / Bank a/c Dr.
P & L a/c ( profit) Cr.
Fixed assets Cr. 
Is This Answer Correct ?    4 Yes 0 No
Gulzar Singh
 
 
 

 
 
 
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