Inventories
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2010
In our company books its shown
in Balance sheet closing stock=closing stock of Raw materials,w-i-p,stores spares,Finished goods but in Profit & Loss A/C the opening stock and closing stock shown only the stock of Finished goods and w-i-p why ?
in Balance sheet closing stock=closing stock of Raw materials,w-i-p,stores spares,Finished goods but in Profit & Loss A/C the opening stock and closing stock shown only the stock of Finished goods and w-i-p why ?
29 June 2010
Then ur purchase must have been including op + purchase - closing. That presentation is is also acceptable. The figure shown is of consumption of raw materials.
29 June 2010
Agreed with Aditya Ji.
In this case you have to fill opening stock of RM/ Packing material in ledger as opening and you have to also fill closing stock also in ledger. By this you got in Profit & Loss , net balance of purchase i.e Good consumed during the year.
In this case you have to fill opening stock of RM/ Packing material in ledger as opening and you have to also fill closing stock also in ledger. By this you got in Profit & Loss , net balance of purchase i.e Good consumed during the year.
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
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- GST Registration Cancellation books of accounts asked by officer
- TDS deduction 194J instead of EPF
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- MIS MATCH OF INVOICE NUMBER
- 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
