Sale of an asset on account of depreciation, accounting, Basic Statistics

Write a short note on Sale of An Asset on account of Depreciation.

Ans. An asset can be sold anytime before or after its useful life estimated time, in case the asset is sold more than its existing written down value it will be a case of profit and opposite to it if the sale is less the existing book value of the asset than it will be case of purely loss, whiter there is loss or profit the both will be entered into the profit & Loss Account. In case of Profit the Profit & Loss Account will be credit and if loss is there then the Profit and Loss Account will be debited.
Posted Date: 3/26/2012 1:03:29 PM | Location : United States







Related Discussions:- Sale of an asset on account of depreciation, accounting, Assignment Help, Ask Question on Sale of an asset on account of depreciation, accounting, Get Answer, Expert's Help, Sale of an asset on account of depreciation, accounting Discussions

Write discussion on Sale of an asset on account of depreciation, accounting
Your posts are moderated
Related Questions
The fluctuations in the stock market induce some investors to sell and move their money into more stable investments. To determine the degree to which recent fluctuation affected o

prepare an estimate of working capital requirements from the following information 1. project annual sales 1,00000/- 2. selling price Rs. 8/unit 3.percentage of net profit on sale

For a normal distribution why do we calculate the probability of a range of numbers instead of the probability of a single number?

Set 1: 1 2 3 4 5 Set 2: 1 13 25 31 42 Set 3: 10 16 24 25 40 Set 4: 5 10 15 20 25 1. Is one of these sets of numbers more likely to win the Gopher 5 than any of the others? Exp

1. Warm-up Exercise Volumes I, II, III, and IV of Shakespeare are in sequence next to one another in the library bookcase.  Each volume has 2" of pages and the front and back co


Study A                                      Study B                       Study C x 2 = 1.683                    F = 7.357                    r = .83 df = 4

Regression line drawn as y=c+1075x, when x was 2, and y was 239, given that y intercept was 11. Caculate the residual

The Midwestern Manufacturing Company (MMC) is a large manufacturer of electrical generators.  The firm has experienced demand for their generators as shown below: Year  Demand

Why is interest expense a no operating expense? Attention cost is a no operating cost when it is not part of a business's primary functions. For example, a store's primary func