Practical Course on Income Tax Audit(Recorded Course)
CLAUDE AI MASTERY COURSE
Claude AI for Financial Statement Preparation
2 Days Webinar on Next Gen Tax Audit Practice using AI
Dear All,
What entry should be pass to shortage of Inventory (stock)?
Advance Thanx,
Sathis
if its normal loss than no entry is passed, the per unit cost is adjusted(raised) by such amount.
In case it is abnormal loss park it to P%+&L account by
P&L Dr
Inventory Cr
Hi Sathish,
As they say shortage of stock should be recognised in P&L a/c to the extend estimated approximately!
thanx milan and prakash
in my view
1.loss of stock(no insurance) - p&l a/c(charge it full)
2.loss of stock(partly insured) - do not charge the insured amt. to p&la/c
Your are not logged in . Please login to post replies Click here to Login / Register
More recent discussions | Post
SGNG & Associates
New Delhi
CA Inter
Goyanka & Associates
My Legal Tax Consultants Pvt. Ltd.
Noida
Velionit Consulting PVT LTd
Mumbai
CA
Austin Med Solutions Pvt Ltd
Bengaluru
Resollect Technologies Pvt Ltd
Hema Yashwanth & Associates
Chennai
B.Com
Saini Pati Shah & Co LLP, Chartered Accountants
CA Foundation
India's largest network for finance professionals
Alternatively, you can log in using: