sold machinery standing in the books at rs4000 for rs3400 only in cash
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as per given question
book value of machinery 4000
machinery sold 3400
therefore
loss on machinery 600(4000-3400)
in question its not specifically given what to solve so i assume that journal entry should pass
cash A/c Dr 3400
profit on sale of machinery A/c Dr 600
To machinery A/c 4000
(machinery sold for cash)
book value of machinery 4000
machinery sold 3400
therefore
loss on machinery 600(4000-3400)
in question its not specifically given what to solve so i assume that journal entry should pass
cash A/c Dr 3400
profit on sale of machinery A/c Dr 600
To machinery A/c 4000
(machinery sold for cash)
anuritha:
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