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Inventory

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(Querist)
08 December 2013 Dear,

If i lost 50k of inventory, how will i bring it in my account books. I need a clear cut answer which will balance the balance sheet
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 December 2013 You can pass the following entry

Dr: Loss of stock
Cr: Stock a/c

In p&l it will be the loss & balance sheet it will reduce your closing stock value

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