Valuation of inventory
This query is : Resolved
13 September 2015
dear sir
i am a mobile company distributor.i have a 250 pieces of particular mobile in my inventory at cost of 5000/piece and mobile market price goes down to 4500/piece so Mobile give me a compensation of rs 500/piece and i got debit note of rs (250*500)12500.so my question is how reduce inventory value in by books in tally and accounting of compensation receive from company .
i am a mobile company distributor.i have a 250 pieces of particular mobile in my inventory at cost of 5000/piece and mobile market price goes down to 4500/piece so Mobile give me a compensation of rs 500/piece and i got debit note of rs (250*500)12500.so my question is how reduce inventory value in by books in tally and accounting of compensation receive from company .
15 September 2015
Revaluation of Stock a/c Dr
to Stock
Vendor A/c Dr
To Purchases cost
to Stock
Vendor A/c Dr
To Purchases cost
16 September 2015
Vishnu Saboo sir
In ur entry how can reflect in tally .how can reduce closing stock value because their is no any kind of closing stock in tally.
In ur entry how can reflect in tally .how can reduce closing stock value because their is no any kind of closing stock in tally.
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