I have a distributor business of ice cream due to power failure some ice-creams melted. So what should be the accounting entry for that??
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What the accounting entry made for goods lost for a distributor business.
Replies (1)
is that normal loss or abnormal loss.
if it is normal loss no entry is required for that.
if it is abnormal loss, entry is
1. stock adjustment entry
loss of stock a/c. Dr.
to trading a/c
2. loss charged to profit and loss
profit and loss a/c. Dr.
to loss of stock a/c
if it is normal loss no entry is required for that.
if it is abnormal loss, entry is
1. stock adjustment entry
loss of stock a/c. Dr.
to trading a/c
2. loss charged to profit and loss
profit and loss a/c. Dr.
to loss of stock a/c
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