banner_ad

Goods Received at the year end but bill not received

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 October 2019 Hi all,
Need a clarification from experts,
ABC company had received goods on 31st march (says 20% to 30% of the total ordered goods ), but bill is not received till the year end. Here we know who is the vendor only but value or quantity of goods received is not clear as on 31 st march . how to account for the same in the books ( whether we had paid advance or not) for the year and whether we should consider the goods for year end stock audit (if so under what head to consider the said goods).
pls clarify
Profile Image

CA Dileep Surya Kumar

Profile Image

CA Dileep Surya Kumar (Expert)
16 October 2019 Since the stock is in the control of the company , the company should account for under stock / stock in transit. Company should have issued POs please adopt the same price for valuation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


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
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details