banner_ad

Loss on sales return

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 October 2012 the goods are specifically made for export and and it is sold to the party but afterwards the party returns the good . It's not possible to sell the same. What will be the loss entry and what will be it's valuation ? for eg....the cost is 90 and i sell for 100? then?
Profile Image

CA Kishore Tallam

Profile Image

CA Kishore Tallam (Expert)
09 October 2012 Assume that the cost of such goods is Rs. 75, the following entries are passed:
At the time of sale:
Debtor / Cash / Bank A/c Dr Rs. 100
To Sales A/c Rs. 100
COGS A/c Dr Rs. 75
To Stock A/c Rs. 75
At the time of return of goods, the above entry is reversed.
Assuming that such goods will not fetch any value now, then
Provision for stock A/c Dr
To Stock A/c
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
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details