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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)
Can you deduct loss on home sale?
generally no...
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.
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.
When sale of debenture value?
The sale of debentures refers to the process by which a company issues debt securities to raise capital. Debentures are typically sold at their face value, but they can also be sold at a premium or discount depending on market conditions and the company's creditworthiness. The value of debentures can fluctuate based on interest rates, the issuer's financial stability, and investor demand. Once sold, debentures pay interest to investors at predetermined intervals until maturity, when the principal amount is repaid.
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 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.
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
Do sale salaries affect profit-and-loss statements?
Sale Salaries
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)
Do you have to pay the balance in a home foreclosure sale?
no
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)
