wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Journal Entry for:-
(I)When Fixed Asset is sold at loss?

Open in App
Solution

Hi Rithik

The following journal entry will be passed when fixed assets are sold at a loss:

Bank A/c Dr. With the amount of sale proceeds
Profit and Loss A/c Dr. With the amount of loss
To Fixed Asset A/c With the book value of asset

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Issued at par and redeemed at a premium
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon