DEEPAK KUMAR AGRAWAL (Article Clerk) (38 Points)
06 October 2009Can anyone pls clear of why in interprocess profit, apparent profit from a process gets deducted from unrealised profit in closing stock to get actual profit, since when closing stock is already deducted from the total along with the necessary proportion of its unrealised profit??????
CA Hardik
(Profession)
(92 Points)
Replied 28 October 2009
Dear Deepak,
Cl Stock of a process contains unrealised profits of the previous process . However Cl stock process is deducted from the cost of the same process,while unrealised profit in cl stock is deducted from the profit of previous process.
Reply
Sandeep Pandey
(CA FINAL)
(1306 Points)
Replied 28 October 2009
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