Interested to Buy Any Domain ? << Click Here >> for more details...
any example should cover all three types of account in one
entry
- 1 Answers
- 5640 Views
- IVRCL, RPG, I also Faced
- E-Mail Answers
Answer Posted / subhash a.
My dear friend, U asked a rare but good question.
U can find a situation where a fixed asset of Rs. 100000
gross cost (on which Rs. 45000 depreciation was claimed till
year of sale). Hence, its WDV is Rs.55000. Now it is being
sold to Mr.X for Rs.75000.
Entry is:
Mr.X (Personal A/c) Dr. 75000
Accumulated Depreciation (Rep. Personal A/c)Dr. 45000
To Fixed Asset (Real A/c) 100000
To Profit on Sale of Fixed Asset (Nominal A/c) 20000
Readers might be aware that Prefixed or Suffixed nominal a/c
is a representative personal a/c. Hence, Accumulated
Depreciation A/c is considered as Representative Personal A/c.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Define social responsibility accounting
I wana give interview as a accountant what the question will asked by interviewer ??? Please suggest me so I can clear inteview. abhinandan
hi, this is shanthi kumar(M.Com). i would like to attend interview in genpact company.please send finance interview questions and interview details. thank u very much
what are the steps for the payment cycle of the firm or company?
IF SALES BILL PREPARED BY CHARGING CST 4 WHEN THERE IS CST 4 TO BE CHARGED. BUT NOT 2010-2011 CST IS 2%. NOW WE HAVE TO PREPARED CREDIT NOTE AGAINST THAT BILLS WHICH CHARGED CST4 AT THAT TIME. THEN I HAVE TO ASK THAT HOW TO MAKE CREDIT NOTE NOW I.E 2010-2011 BY CHARGING 4% OR 2% ?
Differentiate between provision and reserve?
what is a corporate chart of accounts and its purpose?
how can we get a leaverage in intraday market if are not a professional acount holder?
What is the diffrent job&project accounting?
What are depreciation and amortization?
Why you want to change???
what is casual receipt? is it exmpted in income tax?
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
What is the fictitious assets?
How to make deductions of the employees from salary against the loan in AP module oracle R12
