Accountancy, asked by danishauh9210, 1 year ago

Sold office furniture at rs 10,500 become outdated

Answers

Answered by depanshsaxenaowtg22

I think this will be
Cash a/c or bank a/c. Dr.
To. Furniture a/c

yoyohoney10: Assets are always debited.

Abhinand1: assets are debited at the time of purchase. when we are sold the asset we need to eliminate it from account so we need to credit the asset. Also we need to consider profit or loss on sale of asset. It is calculated by deducting sales price from book value.profit is credited and loss will debit in p/L A/C

Answered by Anonymous

heya.......
the entry would be as follows..
furniture A/c .................Dr 10500
To sales A/c 10500

hope it helps u

Abhinand1: only the sale of ordinary goods and services are taken in the sales A/C. Sale of furniture is not an ordinary goods of the bussiness. it is an fixed asset

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