Trading v/s PL
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2010
Hi,
Whathar Otward Transportation Expanses, in case of trading firm, is Item of Trading Account Or Profit and Loss Acxcount ?
Answer with REFERENCE to RELEVENT Accounting Standered.
Thanks
Whathar Otward Transportation Expanses, in case of trading firm, is Item of Trading Account Or Profit and Loss Acxcount ?
Answer with REFERENCE to RELEVENT Accounting Standered.
Thanks
19 September 2010
Purchase of goods need to be booked up to the material reach the destination, which is purchser place, other than no other expenses formaing part of Purchase of goods, this is pure trading related expenses,
Transportion of selling goods is on selling & distribution cost which is indirect cost, so it is a p&l item
Transportion of selling goods is on selling & distribution cost which is indirect cost, so it is a p&l item
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Form 10BD Filling
- Not able to file ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
