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Q. > Please Help: Accounting
Accounting Entry of Stock of Medicine expired as well as vat credit taken on those goods. so Basically Medicine expired and destroyed and reversal of input credit Entry
1 Answers
answered Apr 17, 2012 by Rishabh Upadhyay , Chandigarh
charge both "loss of stock" and "vat" to P&L Account
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Comments
Vandana Kaushik
18-Apr-2012 , 11:55:28 amKindly tell me proper Accounting entry
RAKESH KUMAR
05-May-2012 , 02:42:28 pm1.LOSS OF STOCK DR TO PURCHASE A/C 2.LOSS OF STOCK DR TO INPUT VAT