Rakesh Verma (8 Points)
13 January 2020I have sold goods to customer. Invoice raised & goods handover to transporter. During transit Transporter vehicle stolen and our goods are not recovered.
we have no insurance for in-transit goods. how can we books Theft Loss in our financials statement.
Please clarify with journal entries. We maintain inventory in Tally ERP 9
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5901 Points)
Replied 18 February 2020
Debit Goods loss on theft account
and credit final stock account.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
