HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF
STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS?
- 5 Answers
- 7661 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
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 |
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 |
Calculation of Gross Profit Or Gross Loss give example?
what is gl a/c? & why is it maintain
interview process in factset
what is journal entry for cash received
Mention the types of ledgers?
what are the items falling under the category of reserves and surplus? whether bills of exchange is a reserves and surplus item 2.whther errors of omission will affect the trial balance
Tell About ur self what will i say plz help me
what is trial balance? How to prepare trial balance?
What is the difference between lc and bg(letter of credit
1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?
what is the meaning of banking
tell me bill payable head and entry in tally
4 Answers Reliance, Tally Solutions,
Audit 
