Ajnas (Student) (844 Points)04 December 2021
a).purchase debited to P& L( gross purchase ie, before deducting the purchase return)
b). Purchase debited to P&L (net purchase ie, after deductiing the purchase return)
c). Actual amount paid to creditors during current year
Query 2:-If answer is b). Then what to do negative figure in purchase (purchase return more than purchase)?
Query 3:- This reporting is applicable on capital expenditure, in case asset purchased from related party?