accounting treatment of stock return

This query is : Resolved

AMIT KUMAR CHAUDHARY (Querist)
Follow

01 February 2008 there in this case stock is transfer to brach in other state on form f and there we debit the party and credit the sales now the stock return after two month from branch on form f so what will be the accounting entry?

please reply as early as possible.
thanks

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

02 February 2008 Please list the journal entries you passed at the time of stock transfer to branch and subsequent sales from there to the customer.

AMIT KUMAR CHAUDHARY

AMIT KUMAR CHAUDHARY (Querist)
Follow

02 February 2008 DEAR FREIND WE PASSED THE ENRTY DEDIT THE BRANCH AND CREDIT THE SALE.

CA. Aryendra

CA. Aryendra (Expert)
Follow

03 February 2008 Important: Entries may also be passed in other ways.

Journal Entries for Stock Transfer
In HO. Books

When goods tansferred to branch
Branch Dr.
To Stock Transfer To Branch

When Goods Returned By Branch
Stock Transfer to Branch Dr.
To Branch

In the Books of Branch

Stock Transfer from H.O. Dr.
To H.O.

When Goods Sold By Branch
Party Dr.
To Sales A/c
When Goods Return By party to branch

Sales Dr.
To Party
When Goods Return to H.O.

H.O. Dr.
To Stock Transfer from H.O.A/c

AMIT KUMAR CHAUDHARY

AMIT KUMAR CHAUDHARY (Querist)
Follow

08 February 2008 this entry is coorect but we already make the entry
branch account..Dr
to sales a/c
(being sales against f-form under d-vat)
so what will be accounting entry in case of retun of goods from branch.

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
Follow

28 February 2008 Dear Amit, i do not understand why the entry for sales was passed when the stock was transferred to other branch. Any case now as the goods are returned the entry to be passed would be

Dr Sales Return
Cr Branch.

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