Loss of raw material
This query is : Resolved
Quick Summary
23 January 2021
dear sir/ma'am,
I am engage in business of cleaning of agro products. Raw Agro product contains dust,stone,husk etc.. so i am getting sorts(loss) of raw material due to cleaning of agro product. how to show that loss in stock statement and what will be effect on accounting book?
I am engage in business of cleaning of agro products. Raw Agro product contains dust,stone,husk etc.. so i am getting sorts(loss) of raw material due to cleaning of agro product. how to show that loss in stock statement and what will be effect on accounting book?
23 January 2021
Treat it as normal process loss in the stock statement. No need for any entry in the books of accounts.
23 January 2021
You have to Show it as normal loss and raise a stock journal with loss in quantities only.
26 January 2021
Yes..it is a normal loss in the course of running of business so stock needs to be reduced accordingly.
29 January 2021
thanks all of u for clearing my doubt.
30 January 2021
Welcome..... My Pleasure....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- RCM PAYMENT OF APRIL 2025 NOT PAID IN YEAR AND NOW PAYING IN OCTOBER 2026 RETURN
- GST applicability on Shipping charges
- EPF RETURN FILLING
- Refund credit after 143 (1) intimation
- Incidence of Tax - TDA
- Registration of Educational Institution U/s 12A
- Medical facility
- Processing delay
- LLP audit under companies act
- Income tax return change regime form necessary or not?
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
