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Niyantra M

Niyantra M

CA Foundation

220

28-Jan-20 18:44

120

Adjustments in final accounts

What are we supposed to do in 5th Adjustment

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Answers (4)

Suraj Lakhotia

Suraj Lakhotia

Admin

28-Jan-20 20:58

Reduce from Sales and from debtors - 1.5 lacs Add to cost of Inventory - 1 lac

sriharsha tallapragada

sriharsha tallapragada

CA Foundation

55

26-Feb-20 07:23

5th adjustments is based on cost of good sold for sales or return and Customer approval basis Reduce sales from trade receivables a/c And also reduce stock on approval to closing stock which is present in trading a/c Journal entry Sales a/c Dr 1,50,000 To trade receivables a/c 1,50,000 Approval basis Stock on approval a/c Dr 1,00,000 To trading a/c 1,00,000

sriharsha tallapragada

sriharsha tallapragada

CA Foundation

55

26-Feb-20 07:24

Suraj Lakhotia

Suraj Lakhotia

Admin

28-Jan-20 20:58


Reduce from Sales and from debtors - 1.5 lacs Add to cost of Inventory - 1 lac

Sir if the above points what I have mentioned was wrong please suggest me sir