Accounting asignment
This query is : Resolved
12 November 2014
Dear Sir/Mam, I am working in a Mfg. Industry. Suppose some stock in godown set fire, then what will be the accounting assignment. Pls answer with Dr. account head & Cr. Account head. (Dr. Entry & Cr. Entry)
12 November 2014
01. One way of doing is....do nothing. The closing stock will take care of everything.
02. But this may NOT be a proper disclosure. In that case, determine the LOSS of stock due to fire. Debit the loss of stock due to fire and Credit Stock
02. But this may NOT be a proper disclosure. In that case, determine the LOSS of stock due to fire. Debit the loss of stock due to fire and Credit Stock
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
