Machinery purchased on 1/04/2014 for Rs.200000 .Depriciation@10% (SLM)

Machinery sold for Rs. 180000 on 30.04.16

What is Profit or loss on Sale of Asset?

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Pass Entries For Depreciation

Entry for depreciation 1st year (1/04/2014 to 31/3/2015)

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Entries For Depriciation for 2nd year (1/04/2015 to 31/03/2016)

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Entries For Sale of Fixed assets

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  1. Accounts and Finance
  2. Step 3 Passing Book Closure Entries

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.