sumithra (Student) (47 Points)
19 January 2010
If there is a stock difference between the book and the physical stock which was found during the surprise physical stock verification, what should be the accounting treatment?.
Does any accounting treatment required for this difference.
Thanks and Regards
Sumithra
CA Harish Suwalka
(Chartered Accountant ( Bhilwara ))
(4125 Points)
Replied 19 January 2010
Loss/missing of stock a/c Dr.
To Purchase a/c
(being goods lost/missimg )
P&L A/c Dr.
to Loos/missing of stock a/c
(being loss is transfered to p&l a/c)
CAclubindia
