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Loss on sale of debenture is a loss and like all loss accounts it has debit balance as normal balance.
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What is the plural form of balance of sale?
The plural would be "balances of sale".
What is the Journal entry for loss on sale of equipment?
[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx
Can you deduct - from your taxes - the loss on the sale of your home?
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
What is realization account?
An account used to record the disposal of an asset or assets and to determine the profit or loss on the disposal. The principle of realization accounts are that they are debited with the book value of the asset and credited with the sale price of the asset. Any balance therefore represents the profit or loss on disposal.
Can you deduct loss on home sale?
generally no...
What is type of sale?
Sales is a revenue account and has a credit balance as a normal balance.
Can you take a loss on a sale of a business asset?
Yes loss on sale of business assets is a normal things and mostly for obsolete business assets are sold on loss.
What records a decrease in a asset?
Credit balance records a decrease in fixed assets like depreciation or loss of asset or sale of asset etc.
How is loss different from expenditure?
Loss is the difference between sale and cost when cost is more than sale. i.e Loss = Cost - Sale Expenditure is the amount that is spent on any transaction.
What is the plural form of balance of sale?
The plural would be "balances of sale".
What part of the elements of financial statements does loss on sale of equipment belong to?
Loss on sale of equipment is shown in income statement as other loss.
How do I journalize entries for trade of fixed asset?
This is for any operational asset Debits New asset(fair value) Accumulated depreciation(account balance of old asset) Boot(cash received if any) Loss(if any) Credits Old asset (Account balance, NOT BV) Cash paid(if any) Gain(if any)
What is the Journal entry for loss on sale of equipment?
[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx
Do sale salaries affect profit-and-loss statements?
Sale Salaries
Do you have to pay the balance in a home foreclosure sale?
no
What are some great new balance women's running shoes on sale?
Some great New Balance women's running shoes on sale are Women's Trail WT20GL. They are on sale for a measly $39.99. New Balance 700 women's sneakers are also a good deal.
Can you deduct - from your taxes - the loss on the sale of your home?
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
