Interested to Buy Any Domain ? << Click Here >> for more details...
what is goods in transit and how to pass an entry
- 20 Answers
- 179315 Views
- SK Industries, I also Faced
- E-Mail Answers
Answer Posted / chris
From Seller's books when inventory leaves the warehouse:
Debit Goods-In-Transit (Balance Sheet)
Credit FG Inventory (Balance Sheet)
When customer acknowledges receipt (Delivery Order signed
and dated), record transaction on customer receipt date as
follows:
Debit Account Receivable (Balance Sheet)
Credit Sales (Income Statement)
Debit Cost of Goods Sold (Income Statement)
Credit Goods In Transiot Account (Balance Sheet)
| Is This Answer Correct ? | 14 Yes | 8 No |
Post New Answer View All Answers
i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???
Expand SCERT
what are the certificates needed at the time of SBI clerical interview?
what is the good prasentation on interview
what is status report? and flow report?
How shall I calculate the true profit of my business, as I am a layman for accounting.
differed tax liability
what is the procedure for issuing th C form
which kind of expenses or Income will come under direct expenses or Income ?
Questions asked for the post of Manager (Finance) in a Public Sector company Subject of group discussions for the post of Manager (Finance) in a Public Sector company
please specify some books name in preparing a bank exam apttirutude questions
hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview
what do you mean by jounal voucher? Jounal entry for dishonored cheque can be possible thruogh jv?
What is the Formula For Return on Working Capital
would gross expenditure vouch the correctness or otherwise of the given expenses?
