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Journal Entry

Sales of Fixed Assets | How to dealt with ?

In business sometimes it is require to sale your fixed assets. Inexperienced accountants face problem in recording such transaction. Sale of assets should be passed through a journal voucher and profit/loss on such sale should be transferred to related assets accounts. You should also pass a depreciation in accordance with your local laws and business practice.Learn with example how to pass journal entry for fixed asset sales
An assortment of United States coins, includin...

Journal entry for pre paid expenses

A journal entry is very important in preparation of books of account and finalization of financial statements. all pre paid expenses must be transfer to prepaid expenses account to ascertain correct profit of the company during a year. learn how to pass a prepaid journal entry