Math, asked by Anonymous, 9 months ago

how to make machinery account pls it's argent and explain please​

Answers

Answered by Anonymous
1

Step-by-step explanation:

  • Record cash receive or the receivable created from the sale: Debit Cash/Receivable.
  • Remove the asset from the balance sheet. Credit Fixed Asset (Net Book Value)

Recognize the resulting gain or loss. Debit/Credit Gain or Loss (Income Statement

Answered by kashvi1283
3

Machinery a/c will be debited in this case as machinery is coming into the business. The Golden rule of real accounts says 'Debit what comes in, Credit what goes out'. Cash a/c will be credited in this case as cash is going out of the business....

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