Atharv Sankliya (1354 Points)
02 November 2022
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 02 November 2022
periodically, inventory is setoff with purchases in the trading accounts. what if the balance sheet doesnt tally? Ive never checked out what it is like. but some how its so easy to understand that you have to reverse the entries
Goods write off dr.
Inventory cr.
How did the balance sheet tally then? OK maybe the value was carried forward without write off.
CAclubindia
