banner_ad

Goods in transit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 August 2014 how to treat goods in transit in books of accounts , should i include in closing stock or not ?
Profile Image

Nischit Sanghavi

Profile Image

Nischit Sanghavi (Expert)
28 August 2014 It will shown as a Goods in transit only. U cannot add it in the closing stock.
Profile Image

Nirpendra Singh

Profile Image

Nirpendra Singh (Querist)
28 August 2014 but how to show as good in transit?
Profile Image

Nischit Sanghavi

Profile Image

Nischit Sanghavi (Expert)
28 August 2014 The entry will be:-
Goods in Transit Dr.
To Supplier/Vendor.
And after receipt of goods the following entry shall be passed:-
Purchase Dr.
To Goods in Transit
In the balance sheet goods in transit will be shown as a separate item in the schedule of inventory under the head "Current Assets, loans & advances" .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details