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Loss of raw material

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(Querist)
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?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 January 2021 Treat it as normal process loss in the stock statement. No need for any entry in the books of accounts.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 January 2021 You have to Show it as normal loss and raise a stock journal with loss in quantities only.



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Asha Kanta Sharma online

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Asha Kanta Sharma online (Expert)
26 January 2021 Yes..it is a normal loss in the course of running of business so stock needs to be reduced accordingly.
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Hardik Patel

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Hardik Patel (Querist)
29 January 2021 thanks all of u for clearing my doubt.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
30 January 2021 Welcome..... My Pleasure....

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