If a company Purchased Cotton Waste.. it comes under which expense/ how to treat in account
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Answer / sachin mate
Dr. Purchase Consumable (Purchase A/C)
Cr. party A/c.
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Answer / ajit sharma
it is not a exp for firm and it should go in purchasing a/c and shown in dr side of profit & loss a/c
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My question is- are tpt,freight & p & f charges part of sales & purchase when it include in invoice. suppose if goods value 20000 freight chrg 425.00 total sales will be 20425 or only 20000.00 how it will effect ?? pls clear