Where is the profit or loss on sale of the asset is transferred?

Where is the profit or loss on sale of the asset is transferred?

Monjur Alahi

4 views

2025-01-04 04:42

1 Answers

Salim Ahmed Kawsar

The profit or loss on the sale of assets is transferred to the profit and loss account.

4 views Answered 2023-02-05 15:29

Related Questions

i. Increase in asset is debited and decrease in asset is _______ ii. Assets = Liabilities + ________

2 Answers 9 Views

Balance of the depreciation account is transferred to Profit and Loss A/c.

2 Answers 5 Views

The Profit or Loss on the sale of the asset is ascertained only after charging depreciation.

2 Answers 5 Views

Profit on sale of the asset is credited to an asset account.

2 Answers 8 Views

i. Debit balance of Trading Account means ________ (a) Gross Loss (b) Net Loss (c) Net Profit (d) Gross Profit

2 Answers 4 Views

The credit balance of the Profit & Loss account shows a net profit.

2 Answers 7 Views

When the credit side of the Profit and Loss Account is greater than the debit side, it is called Net Loss.

2 Answers 4 Views

Capital A/c……………..Dr. To Profit and Loss Account (Being Net Profit transferred to Capital A/c)

2 Answers 5 Views

Goodwill is - (A) Tangible asset (B) Intangible asset (C) Current asset (D) None of these

2 Answers 4 Views

Discount on issue of debentures is :- (A) Fixed Asset (B) Current Asset (C) Real Asset (D) Fictitious Asset

2 Answers 4 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)