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journal entry

sagar lad (50 Points)

30 October 2018

provision for closing stock of the firm

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satish (teaching) (2046 Points)
Replied 30 October 2018

entry for stock reserve is
profit and loss A/c. Dr.
To provision for closing stock

Saikrishna S (119 Points)
Replied 30 October 2018

Why we need to make provision?
Valuation itself at cost or NRV which ever is less only

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satish (teaching) (2046 Points)
Replied 30 October 2018

if unrealized profit existed under closing stock, then adjustment entry requires.
this kind of situations may arise, when inter departmental or inter branch transfer of goods

ROHIT KUMAR (service) (24 Points)
Replied 11 December 2018

sir if we pay or receive advance rent for 3 month 15000( 5000pm), what is journal entry and adjestmet .

satish (teaching) (2046 Points)
Replied 11 December 2018

bank a/c. Dr.
to rent received in advance a/c

ROHIT KUMAR (service) (24 Points)
Replied 11 December 2018

sir adjustment entry

satish (teaching) (2046 Points)
Replied 11 December 2018

can you elaborate your query???

Jaspreet Kaur (2 Points)
Replied 11 November 2020

How to calculate the depriciation of assests with repair

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