A company disposed its old asset at rate lesser than its wdv Then how it will

A company disposed its old asset at rate lesser than its
wdv Then how it will recorede and under what account group

Question Posted / mudunoori

A company disposed its old asset at rate lesser than its wdv Then how it will recorede and under w..

Answer / srinivas annavarapu

Bank a/c DR 800
Loss on sale of Asset a/c DR 200
To Machinery a/c 1000

This entry reflects both Nominal and real accounts

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