a electronic shop sold 1 T.V of Rs.2 lac to MR.A . he paid for the TV and give the address to deliver the product but the shop deliver the TV to wrong person and have to give new TV to MR . A so what is the accounting treatment for it ??
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Accounting for wrong delivery
Replies (7)
Quick Summary
The treatment for the sales will be
Mr. A A/c Dr. 2lacs
To Sales A/c 2lacs
Bank A/c Dr. 2lacs
To Mr. A A/c 2lacs.
For delivery made to wrong person, there won't be any accounting treatment as the TV will be taken back in normal business situation. There is also no transaction here in reality.
Mr. A A/c Dr. 2lacs
To Sales A/c 2lacs
Bank A/c Dr. 2lacs
To Mr. A A/c 2lacs.
For delivery made to wrong person, there won't be any accounting treatment as the TV will be taken back in normal business situation. There is also no transaction here in reality.
the TV is not returned by the person who get the TV BY mistake then what is the accounting treatment
If No Money is received against T.V set then same will be loss for Business , so entry in the books of electronic shop .
Loss of T.V A/c Dr
To purchase A/c Cr
( Loss of a T.V set )
Note- Reduce one T.V set from stock journal .
Loss of T.V A/c Dr
To purchase A/c Cr
( Loss of a T.V set )
Note- Reduce one T.V set from stock journal .
No...
this is not a legal transaction then it's not acceptable.
So, TV will be return.
this is not a legal transaction then it's not acceptable.
So, TV will be return.
Wrongly Delivered T.V was not return by the Customer same is loss for Business , is the 2nd query above .
can we also record it as
loss of goods/T.V DUE to wrong delivery A/C dr
to purchase A/C CR
Yes correct , same entry I have pass above , but at the same time you have to reduce one TV set from stock.
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