Company Accounts

Accountancy

The suspense account of Rs.4,000represents cash received for the sale of some of the machinery on 01.04.2017. The machinery cost was Rs.10,000 and the accumulated depreciation was Rs.8,000. So, the machinery value becomes 2000 and it is sold for 4000 and the profit on the sale of the machinery is 2000 Am I right?

Suspense Accounts in Company Accounts.png

Suspense Accounts in Company Accounts 1.png

Udaya Kumar

CMA Inter

★ 920

09-Nov-22 16:54

1K+

Answers (2)

Balance sheet, Profit & loss and Notes to accounts.

Attachments

Gaurav Choubey

CA Foundation

★ 1K+

09-Nov-22 17:32

Yes

CA Suraj Lakhotia

Admin

10-Nov-22 17:35