EXCESS STOCK AT CONSIGNEE AGENT GODOWN

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2010 AT THE TIME OF PHYSICAL STOCK VERIFICATION FOUND EXCESS STOCK IN SOME ITEMS AND SHORT STOCK IN SOME ITEMS AND CAN'T FIND THE REASON FOR IT. THEREFORE REQUIRED ADJUSTMENT IN CONSIGNEE ACCOUNT.

WHAT IS THE ACCOUNTING TREATMENT TO ADJUST THE EXCESS STOCK AND SHORT STOCK?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
Follow

20 March 2010 A consignee stock cannot show like that. First you reconcile the account of consigee.

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2010 AFTER RECONCILATION NOT FIND THE REASON FOR IT, SHORT STOCK MAY BE STOLEN OR DAMAGE AND MAY BE TREATED AS LOSS BUT WHEN EXCESS STOCK THAT CANT FIND THE REASONS THEREOF. SO REQUIRED TO ADJUST AND HOW ?

Upgrade to CAclubindia Pro. Subscribe Now!