kindly help out for the following entry
for job work, invoice would be raised by deducting scrap amount from the basic value. scrap shd be under which heading and what is the entry. please advice
kindly help out for the following entry
for job work, invoice would be raised by deducting scrap amount from the basic value. scrap shd be under which heading and what is the entry. please advice
Normal scrap is included into the cost of finished goods. If company policy is to write it off, use waste account.
Dr. Scrap expenses
To profit and loss
Plus i can move read there is some tds applicable on this just google
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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