Sales Return is asset or laibility

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Question Posted / prashant

5 Answers
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Sales Return is asset or laibility..

Answer / rajesh

Sales Return is our Asset. because When we received our
Goods we will debit Sales Return So it will be Asset. But
this will not come to Balance Sheet. It will come to Profit
& Loss A/c

Is This Answer Correct ?

36 Yes

9 No

Sales Return is asset or laibility..

Answer / smitha kunder

sales return is an asset ofcourse. becouse we receive back
goods supplied by us..our stock s raised by the same qty...

Is This Answer Correct ?

16 Yes

2 No

Sales Return is asset or laibility..

Answer / qamar ali

Sale return is our asset because it is the part of our
assets which was sold.When it comes back our assets increase
an we debit it.

Is This Answer Correct ?

5 Yes

0 No

Sales Return is asset or laibility..

Answer / kannan

it is neither a asset nor liability, it is shown in trading account like sales -sales return= net sales. take a effect at gross profit

Is This Answer Correct ?

6 Yes

4 No

Sales Return is asset or laibility..

Answer / rajesh

sales returns is asset to the company though it will not
shown in the balance sheet and it will be shown in p&l a/c

Is This Answer Correct ?

6 Yes

5 No

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