How to enter surrendered stock in books of accounts?

Mayank (Sr.Accountant) (152 Points)

24 December 2010  


I want to know if a business man surrenderd stock in Income Tax Investigation then how we can enter this surrenderd stock in the books?

I have credited to P&L appropriation a/c but i dont know which a/c would be Debited because this is not a purchase .


so kindly give me the right treatment on this problem as earliest as possible


thanking you


Mayank Rastogi