Question

Any 12th Grade Commerce Students. Help me. I Will mark the Best answer as Brainliest.

The sale of Computers in Receipts and Payments a/c as on 31 March 2010, is Given 15000. but The Book value is 50000 during April 1 2009 was 5000 and half of it were sold during the year. How to Treat This in Income and Expenditure Account?

SUB: ACCOUNTANCY
CHAPTER: CHAPTER 1-NON PROFIT ORGANIZATIONS.​

Answer 1

Answer:

The book value of computer sold is ₹50000 but the selling price is ₹35000. This means that the NPO has incurred a loss of ₹35000. This loss will be shown on the expenditure side of income and expenditure account as loss on sale of computer

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