Journal Entry

Accountancy

Furniture of Rs 10000 was sold for Rs 15000. What will be the journal entry ? It will be Cash A/C Dr 10000 or 15000 To Furniture A/C 10000 or 15000 What will the value of Debit amount and Credit amount ?

Ardhendu Sekhar Acharya

CMA Inter

★ 250

03-Oct-22 19:11

775

Answers (1)

Best Answer

Cash a/c Dr 15000 To furniture 10000 To p &l 5000 15000-10000= 5000 profit trf to p&l a/c . Ur getting 15000 in hand so Dr cash Ur selling furniture which means u hav cancel furniture from ur books so cr it with book value 10000.

Kiran Vijay

CA Final

★ 4K+

03-Oct-22 19:14