Asset book value dhs.150 transfer to sister co.buy on 1.10.10 transfer on 31.08.11.depreciation straight line 20%.journal?

Entries:-

1. Sister Concern Co. (XYZ) debited and Asset Credited.

2. Accumulated Depreciation debited and Other Income / Loss on FA Credited.

For Example:

If Asset value is

Accumulated is

Net book value is

JV will be

Sister Concern's Current A/c Dr.

Accumulated A/c                    Dr. 

                 To

Asset A/c                                             

In this scenario we simply closed the asset account and the accumulated deprecation related to that asset dr : sister company by the net value after depreciation 122.5

dr : accumulated depreciation 27.5 

cr : assets by the historical value     150