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Accounting query

Accountancy

What entry should i made to increase sales by rs.4032 without increasing debtors and cash in hand should also be increased by that amount and closing stock should also decrease in tally??

Aadip Mondal

CA Inter

★ 4K+

31-Mar-21 14:44

273

Answers (2)

If you increase sales, you should increase a corresponding asset.

CA Suraj Lakhotia

Admin

31-Mar-21 14:59

Assume that cost sales 4000 and profit is 42 - 1) 4000 increase in sales, 4000 reduced in closing stock and 32 will be shown in profit. 2) in balance sheet : Asset - closing stock (4000) and cash / debtors +4032. Liability- profit +32 The balance sheet talliedð???ð???