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Purchases ledger

Accountancy

While preparing the purchases ledger why is the freight amount not included as per the illustration 2 of ch 2 unit 4


Parikshit Rathod

Parikshit Rathod

CA Foundation

710

01-Sep-20 17:10

359

Answers (4)

Pls share the question image.


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

01-Sep-20 18:09

CA Suraj Lakhotia Admin

Pls share the question image.

The question and photo of the ledger sir

20200901_211439.jpg
20200901_211445.jpg
20200901_211428.jpg
20200901_211450.jpg

Thread Starter

Parikshit Rathod

Parikshit Rathod

CA Foundation

710

01-Sep-20 21:17

Thread Starter

Parikshit Rathod

The question and photo of the ledger sir

As of my knowledge, Freight will not be included in purchases. But it will be included while valuing closing stock as per accounting standard- 2 valuation of inventories.


VIJAYA SARADHI MAGANTI

VIJAYA SARADHI MAGANTI

CA Inter

850

01-Sep-20 21:42

Ok thanks


Thread Starter

Parikshit Rathod

Parikshit Rathod

CA Foundation

710

01-Sep-20 22:11

Offer