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    s11004987's Avatar
    s11004987 Posts: 2, Reputation: 1
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    #1

    May 3, 2007, 10:51 PM
    ACCOUNTING(ROA) return of non-current assets
    Hi,
    Please help me clear my confusion
    My question is, I return a damaged furniture worth of 680 which I originally bought for 2680.
    What account will be credited and what account will be debited?
    s11004987's Avatar
    s11004987 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    May 3, 2007, 10:53 PM
    Quote Originally Posted by s11004987
    Hi,
    Please help me clear my confusion
    my question is, i return a damaged furniture worth of 680 which i originally bought for 2680.
    what account will be credited and what account will be debited?
    Furniture account will be credited and accounts payable accounts will be debited
    venugopalarao's Avatar
    venugopalarao Posts: 14, Reputation: 1
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    #3

    May 5, 2007, 03:46 AM
    Accounts payable a/c dr
    To furniture a/c
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