A business unit disposes an old asset at a rate higher than
its written down value. Then how it will be recorded and
under what head of income



A business unit disposes an old asset at a rate higher than its written down value. Then how it wi..

Answer / srinivas annavarapu

The entry will be

Bank a/c DR
TO Profit on sale of Asset
TO Machinery a/c

and it comes under capital income

Is This Answer Correct ?    4 Yes 1 No

Post New Answer

More Accounting AllOther Interview Questions

Mr X has invest Rs.150000/- from his saving bank a/c for fixed deposit after maturity he received with interest amt Rs.165000/- He requested bank to renewed the same excluding inst amt.Bank after deducting charges credit the insterest amt to Mr. X a/c..pass the Journal entry in the books of MR.X

2 Answers  


what is the MIS Reports

2 Answers  


What Kind Of Requirements for Vat Refund And Assessment Cases

0 Answers  


what is sensex and nifty.

8 Answers   HDFC, Nabard, SEBI,


What is Analysing

0 Answers  






Examples of automatic generated content material of car logbook loans?

0 Answers  


Why provisions are made & what will be the Journal entry for different types of provisions.

4 Answers   CyberSoft,


What is personal Account?

5 Answers  


what is bill of payment

2 Answers   FIC, First Indian Corporation,


Give some example of real,personal & nominal accounts , & which kind of a/c reflect p&l & BS.

20 Answers   Banking, HSBC, IT Industry, Motilal Oswal, SLK,


what in contingent liabilities

6 Answers   Genpact, KS,


Erection and Instalation charges of Rs 7500 to Lift was debited to repairs and maintenance account. Rectify it

0 Answers  


Categories