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i purchase a vehicle rs 500000,including vat 5% ,
registration fee rs 40420 and insuarance fee 18500, after
the use two year i sale it. how to calculate it cost? what
entry in tally?
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Answer Posted / rajesh
Total Vehicle cost will be
Rs.500000+40420+18500=Rs.562700/-.
in the two years you might claimed Depreciaton
after Less Depreciation
the vehicle value will be Eg: 400000/-.
if you sold Rs.420000/-.
it will be profit on sales of asset cr
or loss on sales of Asset Dr
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