how the loss on sale of furniture will be entered in
accounting books
Answers were Sorted based on User's Feedback
Answer / safayat
Hi Im Safayat. It will be recorded as follows:
Cash/Bank account Dr.
Loss on sale of furniture account Dr.
Accumulated depreciation account Dr.
Furniture account Cr.
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / pratish.m
Debit cash/ bank A/c-------- xxxxx
Debit Depreciation A/c------xxxxx
Credit Furniture A/c------ xxxxx
Is This Answer Correct ? | 5 Yes | 3 No |
Answer / prakash
Bank a/c Dr xxxx
Profit&Loss a/c Dr xxxx
(loss)
To Furniturea/c xxxx
Is This Answer Correct ? | 2 Yes | 1 No |
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