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Purchases ledger

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

22

Answers (4)

Pls share the question image.


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Sep-20 18:09

Pls share the question image.

The question and photo of the ledger sir

Attachments

20200901_211450.jpg

20200901_211445.jpg

20200901_211428.jpg

20200901_211439.jpg


Parikshit Rathod

Parikshit Rathod

CA Foundation

710

01-Sep-20 21:17

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 Foundation

850

01-Sep-20 21:42

Ok thanks


Parikshit Rathod

Parikshit Rathod

CA Foundation

710

01-Sep-20 22:11