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??
Menu
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
Recent Topic
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
- INCOME TAX NOTICE 143(2) - FY 2024-2025
- Unable pay Self Assessment Tax - Netbanking and De
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
Related Topics
CAclubindia
