Interested to Buy Any Domain ? << Click Here >> for more details...
While closing books for the year end, We had Closing stock
which is inclusive of VAT(i.e Cost price + VAT), What is
the treatment of this Closing Stock in the P&L and BS , is
Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT)
or, without VAT (ie. Cost Price)
- 5 Answers
- 11626 Views
- I also Faced
- E-Mail Answers
Answer Posted / raghupathi vengala
with out VAT, According to Cost Concept we shown actual
cost of the stock .
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Have you ever made mis reports and what are they?
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
Please explain what do you do to increase revenues? What are your tactics, techniques, and sales methods?
what is the process of cenvat credit taken in service tax( in direct & indirect service)
What is the difference between accumulated depreciation and depreciation expense?
How create the invoices?
What are document required by the bank to make payment for debit memo (Import). if we have allready made payment for orignal bill.
Explain compound journal entry.
If closing stock is given in adjustments, how we show in tally 9.0 ?
HOW DOES THE ROLE OF THE MANAGEMENT ACCOUNTANT COMPLIMENT THAT OF THE FINANCIAL ACCOUNTANT
what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit or loss in case the party paid check direct to Bank .......???
What is capital adequacy ratio? What is demat account?
Give ONE reason for Balance Sheet to be out of balance
as per partnership deed, salary to working partner is rs 8000/ per month (96000 annually), suppose if i have book profit of rs 50000/ only,then what is the procedure to give salary
