Insurance claims for loss of stock

Accountancy

What is the meaning of the point (b) Opening stock on 1st April was â?¹2,20,000, including stocks of the value of â?¹20,000 being lower of cost and net value subsequently realised but the realisation value is not included in the sales given above

Subramanyam N

CA Inter

★ 6K+

31-Oct-22 17:18

437

Answers (5)

Best Answer

It is kept separately to compute normal profits and stock.

CA Suraj Lakhotia

Admin

01-Nov-22 16:06

That's an abnormal item

Anand Sankaran

CA Inter

★ 3K+

31-Oct-22 20:04

In point b they are saying That in opening stock there is some abnormal items have been included.

Balachandar S

CA Inter

★ 59K+

31-Oct-22 20:14

Balachandar S

In point b they are saying That in opening stock there is some abnormal items have been included.

Yes but in the second line it's subsequently realised but not included sales figure

Anand Sankaran

CA Inter

★ 3K+

31-Oct-22 20:17

Anand Sankaran

Yes but in the second line it's subsequently realised but not included sales figure

Yeah u're right

Balachandar S

CA Inter

★ 59K+

31-Oct-22 20:30