Stock in transit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2012
what is entry of goods in transit ?
what is effect of goods in transit on balance sheet and profit loss accounts?
what is effect of goods in transit on balance sheet and profit loss accounts?
CA.Vinita Gupta
(Expert)
21 October 2012
STOCK IN TRANSIT A/C DR
TO CREDITORS/BANK
THE STOCK IN TRANSIT CAN BE INCLUDED IN YOUR STOCK OR CAN BE SHOWN AS STOCK IN TRANSIT UNDER THE HEAD STOCK AS PER THE ACCOUNTING POLICY FOLLOWED BY THE CO
TO CREDITORS/BANK
THE STOCK IN TRANSIT CAN BE INCLUDED IN YOUR STOCK OR CAN BE SHOWN AS STOCK IN TRANSIT UNDER THE HEAD STOCK AS PER THE ACCOUNTING POLICY FOLLOWED BY THE CO
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SANYAM ARORA
(Expert)
21 October 2012
Agreed with Vinita
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