accounting for free samples
This query is : Resolved
seema singla
(Querist)
17 May 2010
A Co. manufactures medicines. It sends
some medicines as free samples and sent them to dealers and doctors. I want to know what entries will be passed for these samples in the books and co. and dealers.
Please reply.
Thanx
some medicines as free samples and sent them to dealers and doctors. I want to know what entries will be passed for these samples in the books and co. and dealers.
Please reply.
Thanx
Manmohan ACA, CS
(Expert)
17 May 2010
advertisement Account A/c ___________Dr.
___To Trading A/c
___To Trading A/c
seema singla
(Querist)
17 May 2010
Please tell me in detail in the books of both parties
19 May 2010
you have to pass following entries
I) Free Sample Distibuted Direct by Co.
Prepare Sales bill without tax
FOC (Debtors) A/c
to Sales A/c
& trans balance perodically of FOC (Debtors) A/c to Free Sample A/c (expenses)
II) Free Sample distibued thru Deler
issue CN to Deler
FOC (Debtors) A/c
to Dear A/c
I) Free Sample Distibuted Direct by Co.
Prepare Sales bill without tax
FOC (Debtors) A/c
to Sales A/c
& trans balance perodically of FOC (Debtors) A/c to Free Sample A/c (expenses)
II) Free Sample distibued thru Deler
issue CN to Deler
FOC (Debtors) A/c
to Dear A/c
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