Entry for damaged stock
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2017
I am a retail dealer of sanitary and other items.The book value of my closing stock as on 31.03.2017 comes about 70.00 lac. But out of this stock, a stock of approx. 10.00 lac has been completely damaged due to flood in my godown. I want to reduce the book value of my stock by 15.00 lac. Can anyone guide me as what entry should I pass in tally to give effect to this ?
10 July 2017
Loss by flood
To Purchase / Stock
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