a person order 20 units of phone from a shop online and shop's employee dispatch the parcel with 22 unit of phones by mistake so what are the accounting treatment and journal entries for it
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 14 February 2022
Prepare Sales Invoice for 20 phone Units
for 2 phone lost reduce stock from stock journal
pass entry for 20 phone
Trader Debtor's A/c Dr
To sales A/c Cr
To CGST A/c Cr
To SGST. A/c Cr
( Booking entry for 20 phone)
For 2 phones lost pass entry
Lost phone A/c Dr
To purchase A/c Cr
( 2 phones were lost )
also reduce 2 phone from stock journal
for 2 phone lost reduce stock from stock journal
pass entry for 20 phone
Trader Debtor's A/c Dr
To sales A/c Cr
To CGST A/c Cr
To SGST. A/c Cr
( Booking entry for 20 phone)
For 2 phones lost pass entry
Lost phone A/c Dr
To purchase A/c Cr
( 2 phones were lost )
also reduce 2 phone from stock journal
Atharv Sankliya
(1354 Points)
Replied 14 February 2022
And what are the entries in receiver books of accounts ???
Ks
(Ac)
(138 Points)
Replied 16 February 2022
yes what are the journal entries in the receiver books of accounts ?
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