Entry of carry bags purchased
Atharv Sankliya (1359 Points)
02 November 2021
entry of carry bags purchased
12 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 02 November 2021
Purchase of carry bags Dr.
To Bank/Cash Cr.
To Bank/Cash Cr.
Atharv Sankliya
(1359 Points)
Replied 02 November 2021
And its treatment in training and profit&loss a/c
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 02 November 2021
Then we see the net effect. If net effect is profit then it will come in indirect income and if there is net loss then it eill come in indirect expense.
ABHISHEK
(Student)
(412 Points)
Replied 03 November 2021
Entry must be posted through purchase ledger increasing the stock of carry bag and consumption/sale should be charged to Pl account.
please correct I am wrong Ca Aakarsh Jain
please correct I am wrong Ca Aakarsh Jain
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 03 November 2021
Agree with Abhishek
Atharv Sankliya
(1359 Points)
Replied 04 November 2021
And what if there is no loss and no profit means we charge same amount on carry bags in which we purchase ?
ABHISHEK
(Student)
(412 Points)
Replied 07 November 2021
For better presentation, receipt on credit side of pl and expense on dr side of pl
net effect to net profit will be zero
net effect to net profit will be zero
Atharv Sankliya
(1359 Points)
Replied 02 December 2021
What is the title name for receipt shown in cr side of p&l a/c
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