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Stock journal

This query is : Resolved 
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(Querist)
23 August 2013 Sir

WE HAVE SCRAP GOODS RS. 50,000/- THROUGH STOCK JOURNAL ,FOR RESULT OUR GROSS PROFIT IS
DOWN, AS WELL AS NET PROFIT ALSO DOWN . BUT
MY CA SAYS WHERE YOU ENTRY PASS ON P/L LOSS A/C, HOW COULD PROFIT DOWN.

PLEASE DESCRIBE SIR WHY GP DOWN WHEN SCRAPE GOODS.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 August 2013 It is kind of stock loss, so it will effect your p&l a/c
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