Journal entry
This query is : Resolved
20 December 2014
company offered to its customer an offer as follows - buying of coupon worth Rs 1000/-, the customer can redeem the same for Rs 1050/- by buying the companies products
20 December 2014
Dear Mr. Shenoy, Revenue need to recognized by Rs. 1,000/- however you need to create provision for expected losses or discount on future sales. The amount of provision will depend upon previous experience and the Judgement of the organization
20 December 2014
As per AS 9 on revenue recognition you must book a provision for 50 and revenue to the extent of 1000,
20 December 2014
you have to take revenue as lower by discount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
