Adjustments in final accounts

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

CA Suraj Lakhotia

Admin

28-Jan-20 20:58

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

sai t

CA Foundation

★ 2K+

26-Feb-20 07:23

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

sai t

CA Foundation

★ 2K+

26-Feb-20 07:24

Its correct.

CA Suraj Lakhotia

Admin

26-Feb-20 17:45