Question
What are the journal entries you would make if you sell 1 bitcoin for $36000? but you originally bought it for $20 000.? Bitcoin is
What are the journal entries you would make if you sell 1 bitcoin for $36000? but you originally bought it for $20 000.? Bitcoin is an intangible asset so how would you account for this as journal entries? What are the tax entries? I've done this so far;
Dr Cash 36000
Cr Bitcoin 20000
Cr gain on sale of bitcoin 16000
(When bitcoin is sold)
Dr tax payable $3000
Cr Cash $3000
(assume tax is 30%)
is this okay? is there anything missing?
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Business Security Audit And Review Toolkit The Modern Toolkit For Security And Risk Professionals To Grow Their Business And For The Business Owners.
Authors: L Burke Files, Gamal Newry, Ibrahim Yeku
1st Edition
1674831315, 978-1674831312
