Question
Fast Company engaged into the following transactions. January 01, The Company traded in its old equipment which had a cost Rs. 60,000 and whose Accumulated
Fast Company engaged into the following transactions.
January 01, The Company traded in its old equipment which had a cost Rs. 60,000 and whose Accumulated Depreciation was Rs. 40,000. The new equipment had a list price of Rs. 95,000. The company was granted Rs. 27,000 trade in allowance for the old equipment.
Required: Record the above transactions in Journal & show all calculations.
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Supply Chain Management Accounting Managing Profitability Working Capital And Asset Utilization
Authors: Simon Templar
1st Edition
0749472995, 978-0749472993
