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HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF
STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS?

Question Posted / venkat

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HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS..

Answer / amjad

loss of stock Dr. ( this will be indirect exp.)

To stock A/c ( which is loss )

Is This Answer Correct ?    8 Yes 1 No

HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS..

Answer / guest

loss of stock a/c dr.

To- stock

Is This Answer Correct ?    5 Yes 1 No

HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS..

Answer / ganesh

In case of loss of stock, if there is Normal loss no entry
is required to pass in such cases price have to be
inflated.But for abnormal loss:-

Loss of stock A/c.....Dr.
To stock A/c

Is This Answer Correct ?    3 Yes 0 No

HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS..

Answer / mohd rashid

NO ENTRY REQUIRED FOR NORMAL LOSS AND FOR ABNORMAL LOSS THERE ARE THREE POSSIBILITIES
1 STOCK FULLY COVERED BY INSURANCE THEN

INSURANCE COMPANY A/C DR
TO TRADING A/C
2 IF PARTLY COVERED THEN

INSURANCE COMPANY DR
P&L A/D DR
TO TRADING A/C

3. NOT COVERED

P&L A/C DR
TO TRADING A/C

Is This Answer Correct ?    2 Yes 0 No

HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS..

Answer / devender kumar

Normally This type of entry is passed

Loss of stock a/c dr
to Purchase a/c cr

Because our stock will decrease from stock journally we dont pass journal entry of stock.

Is This Answer Correct ?    0 Yes 0 No

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