If there is a stock difference between the book and the physical stock which was found during the surprise physical stock verification, what should be the accounting treatment?.
Does any accounting treatment required for this difference.
Thanks and Regards
Sumithra
Loss/missing of stock a/c Dr.
To Purchase a/c
(being goods lost/missimg )
P&L A/c Dr.
to Loos/missing of stock a/c
(being loss is transfered to p&l a/c)
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Shyam Joshi & Associates
Pune
B.Com
View Details
CAclubindia
