COST OF ASSETS 250000
ACCUMULATED DEPRECIATION 115000
SELLING PRICE 137500
PASS ENTRY FOR THE SALE OF ASSET.
- 2 Answers
- 4237 Views
- ABC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / abhishek jain
bank a/c dr 137500
To profit on sale of assests a/c 2500
To sale of assest 135000
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / v.s.sujith
Bank A/c Dr 137500
To sale of assets 135000
To Profit on sale of assets 2500
Being sale of assets.
Detil:
COA- 250000
-Dep 115000
= 135000
-Sale 137500
=Profit. 2500
| Is This Answer Correct ? | 3 Yes | 0 No |
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
Are having 8% CST in any commodity or state.
We have paid service tax of March Bills on 30 March. we forgot to include some bills for service tax, now we can deposit the tax in april/may and how we enter the tax..in tally....
what is the difference between vat 100 and vat 120?
NOW I WANT TO FILE THE INCOME TAX RETURNS. I AM A SALARIED PERSON WITH NO OTHER INCOME. SHOULD I USE SARAL 2( ITR-1) FORM ASSESSMENT YEAR 2010-11
We are a UK company selling electronic s/w licenses to customer in India. We have a PAN Number. Why is TDS being deducted on a product? Why is TDS calculated on the invoice value - surely it is supposed to be on Income and not Turnover? What is the correct TDS % deduction?
HOW THE INTEREST WILL BE CALCULATED IF WE MAKE INCOME TAX RETURNS LATE AND WHAT IS MEANT BY YEAR END?
my yearly income was 260000/- for last year. & nw i get 295000 so how much income tax i hav to pay
If i want to change a proprietor concern yo a partnership concern. do i have to pay full tax on every product i have in stock or just simple make a partnership deed and apply a new pan card and register in sale tax department ?
How much in the inter state tax CST For the LPG Stove
Can I know the Difference between C form and E Form
Please tell about Work Contract Tax and How much % to be deducted, Which type of contractors come under this WCT and what is the procedure after deducting the Tax.
Audit 
