i have puchase a vehicle on 1st of jan 2006 for Rs 40000
and charegd depriciation @25% P.A and sold vehicle on 31st
of dec,2009 RS 10000 what are the general entries related
to this question.
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Answer Posted / mohammed nayeemuddin
i dont no it is correct are wrong pls...vote for it
purchases: 1 st jan 2006
By vehicle a/c dr - 40000
to cash/bank a/c cr - 40000
depriciation : 31st dec 2009 shows
By depriciation a/c dr -30000
to vehicle a/c cr - 30000
sale of vehicle : on 31cdec 2009
By cash/bank a/c dr - 10000
By Depriciation a/c dr - 30000
To Asset a/c cr - 40000
| Is This Answer Correct ? | 7 Yes | 3 No |
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