Journalise the trasanctions....
An old machine with the book value of Rs 80,000 is exchanged for a new machine of rs 2,40,000.The old machine is valued at rs 50,000 for exchange purpose by machine Tools Ltd.
Answers
Answered by
36
New Machine A/C. Dr. Rs.2,40,000
To old machine A/C. Rs.50,000
To Cash A/C or Bank A/C. Rs.1,90,000
(Being new machinery bought by exchanging old machinery )
Profit and Loss A/C. Dr. Rs.30,000
To Old machine A/C. Rs.30,000
(Being loss on exchange of old machine)
aksh02:
tysm :) instead of writing to cash or bank ac can v write as to machine ltd a/c??
akka y r we writing it as profit and loss a/c....
y am i not getting the option to mark it as brainlist?
Answered by
30
New machinery A/c. Dr. 2,40,000
Profit & Loss A/c. Dr. 30,000
To Old Machinery A/c. 80,000
To Machine Tools Ltd. 1,90,000
( Being old machinery exchanged with new machinery by Machine Tools Ltd.)
Attachments:
Similar questions