Revised schedule vi - revenue from operations - (negetive)
This query is : Resolved
22 January 2018
company has issued Service Bill for F.Y 2015-16
in the year F.Y. 2016-17 company has reversal the bill
therefore
Revenue from operations for F.Y. 2016-2017 coming Negetive
Where to Show Revenue from operations.
in the Current year there is no new bill is issued so only reversal entry there in the FY 2016-17
Pls. Help.
in the year F.Y. 2016-17 company has reversal the bill
therefore
Revenue from operations for F.Y. 2016-2017 coming Negetive
Where to Show Revenue from operations.
in the Current year there is no new bill is issued so only reversal entry there in the FY 2016-17
Pls. Help.
CA Suresh Jain
(Expert)
22 January 2018
Show negative revenue in P&L and in schedule to P&L detail to be given as Sales ........
Less Sales return (of previous year)................... The closing inventory shall increase by the cost or realisable value of goods returned
Less Sales return (of previous year)................... The closing inventory shall increase by the cost or realisable value of goods returned
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