Fire in stock
This query is : Resolved
Gorav Kumar Goyal
(Querist)
29 June 2012
What entry will be done for Fire In stock.
Closing stock will be net of loss.
Now,
whether we have to reduce puchase or we have to show loss by fire in debit and loss by fire in credit.
What is the accurate entry?
thanks.
Closing stock will be net of loss.
Now,
whether we have to reduce puchase or we have to show loss by fire in debit and loss by fire in credit.
What is the accurate entry?
thanks.
CA Hardik Bunha
(Expert)
29 June 2012
Loss due to fire A/c DR.
to stock A/C
to stock A/C
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