Easy Office

ACCOUNTING FOR LOSS BY ACCIDENT

This query is : Resolved 

22 February 2021 Dear Team,
I am working in a Chemical Industry, we made one sale of Hexane to party but the party met an accident and few quantity find in good condition and remaining qty we lost. So the qty which is in good condition delivered to the party. So i would like to know how we will make accounting entry for the same.

22 February 2021 Account it as loss in transit and reverse ITC availed on it.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries