Re- sale accounting entry (goods are not finished goods)
This query is : Resolved
suresh patel
(Querist)
16 November 2015
Dear ca/cs,
if i have purchase packing material(good are not a finished goods) and i have sold to another co. to this packing material out of state. so what is accounting entry of this transaction please suggest me,
regards
suresh patel
if i have purchase packing material(good are not a finished goods) and i have sold to another co. to this packing material out of state. so what is accounting entry of this transaction please suggest me,
regards
suresh patel
Amol S Joglekar
(Expert)
16 November 2015
open one account named as "resale of packing material"
debit debtor/Cash as the case may be
credit resale of packing material
debit debtor/Cash as the case may be
credit resale of packing material
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