What should be entry

867 views 2 replies

Continue wih my above question

But since entry is to be passed in tally then in whcih group i show the trading a/c.

 

Thanx in advance

Replies (2)

Entry shoud be

 

normal loss a/c Dr.   45

         To Stock a/c              45

P&La/c Dr.                 45

         To Normal loss a/c     45

Normal loss should not be transferred to PL...it should be included in the valuation of inventory. See AS-2.

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