Material in Transit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2011
Dear Experts,
My company is residential developers for our construction purpose we purchase martial from different locations as we know FY has closed but some of our material in transit and billing date of this material is also related to FY 10-11 and it will be reach to our site in next 2 days and we know the exact bill value can we consider this bill amount in our books of accounts.
Regards
Ravinder
My company is residential developers for our construction purpose we purchase martial from different locations as we know FY has closed but some of our material in transit and billing date of this material is also related to FY 10-11 and it will be reach to our site in next 2 days and we know the exact bill value can we consider this bill amount in our books of accounts.
Regards
Ravinder
JIGAR DALAL
(Expert)
10 April 2011
Yes you can show it as Raw material in transit in balance sheet
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