Tag: disposal of asset and any addition or extension to the existing asset
Questions Related to disposal of asset and any addition or extension to the existing asset
When scrap is sold ________ account is credited.
An item of fixed assets which has retired from active use and is held for disposal is ______________.
Give journal entries for:
Transfer of balance in asset account in case of loss.
Account appear under Use of Asset Disposal Account are ____________________.
Disposal of asset can be done________.
The amount incurred on asset additions/extensions is _____.
What is debited in asset disposal account?
Additional asset is Depreciated from _______.
When a part of the asset is sold and provision for depreciation account exists, which new account is formed ?
The balance of asset disposal account is transferred to __________.