stock valuation
This query is : Resolved
10 August 2010
Free scheme stocks received from the supplier will be delivered to Customers.The free scheme stock on hand will be valued at cost or zero? because, in the purchase invoice the value of free scheme stk is zero?
11 August 2010
Sh Jitender is right. The financial transactions are recorded in the books at the cost.
The question is very interesting.
According to the Cost Concept of accountancy; you have to record the transaction at cost.
Since cost is NIL; hence the value would also be zero.
The question is very interesting.
According to the Cost Concept of accountancy; you have to record the transaction at cost.
Since cost is NIL; hence the value would also be zero.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
