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

Machinery sold for Rs. 130000 on 30/04/2016

What is Loss on sale of Fixed Assets?

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Pass Entries for Depreciation

Entry for depriciation 1st year(1/04/2014 to 31/03/2015)

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Entries For Depreciation for 2nd year (1/04/2015 to 1/04/2016)

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Entries For Depreciation for one month (1/04/2015 to 30/04/2016)

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Entries For Sale of Fixed asstes accumulated method

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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.