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Goods in transit

This query is : Resolved 
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(Querist)
23 December 2014 how goods in transit accounted in books how goods in transit accounted
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 December 2014 Goods dispatched on or before 31st March on which ownership passed on to the buyer on or before 31st March but goods not received\received pending acceptance will be accounted as goods in transit crediting sundry creditors.
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Rupesh Jain

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Rupesh Jain (Expert)
24 December 2014 when goods as dispatch by the vendor and not received by the buyer.
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