if u sale an asset for Rs.1000, which shows the book value of
8600. what will be the journal entry???
Answers were Sorted based on User's Feedback
Answer / madhulika2011
Cash or Bank A/C.....Dr. 1000
Loss on Sale A/C.....Dr. 7600
To Asset A/C..................8600
|Is This Answer Correct ?||50 Yes||3 No|
Answer / gopakumar.g
Cash/Bank A/c Dr 1000
P&L A/c Dr 7600
To Asset A/c 8600
(Being the asset sold @ a loss of Rs.7600/-)
|Is This Answer Correct ?||0 Yes||0 No|
Answer / akram khan
Purchaser a/c dr 10000
To Asset a/c 8600
To profit a/c 1400
|Is This Answer Correct ?||8 Yes||27 No|
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