Purchase & payment import
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2014
Dear Sir,
I have three queries please guide me
1. Purchase import $ 100, Item 100 Pens ($1 = Rs. 50)
2. Payment of above Transacion than $1 = Rs. 45
3. What is Closing Stock Entry. how to pass Stock Journal Entry
I have three queries please guide me
1. Purchase import $ 100, Item 100 Pens ($1 = Rs. 50)
2. Payment of above Transacion than $1 = Rs. 45
3. What is Closing Stock Entry. how to pass Stock Journal Entry
Vishnu Saboo
(Expert)
12 June 2014
Closing stock must be valued at Cost or market value, whichever is lower.
impact of same to be debited/credited in increase/decrease in stock value account.
impact of same to be debited/credited in increase/decrease in stock value account.
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