While closing books for the year end, We had Closing stock
which is inclusive of VAT(i.e Cost price + VAT), What is
the treatment of this Closing Stock in the P&L and BS , is
Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT)
or, without VAT (ie. Cost Price)
- 5 Answers
- 10152 Views
- I also Faced
- E-Mail Answers
Answer Posted / akhil
Stock will show only on cost price (both in P&L AND B/S)
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Explain me what do you think is bank reconciliation statement?
Explain a time when you have not met your goal?
What is the definition(meaning) for the Final accounts adjustment 'Uninsured goods lost fire'?
Who created snapit accounting?
what is the difference b/w carpet area,covered area and build- up area and how it is calculated.......
are tpt, freight & packing charges part of sales & purchase ??
6. Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
What is purchasing order?
I have transferred the Plant & machines to our Branch which are located in other state. plz told me how can i show the Machin stk trfr amt in return?
Assigning natural account to accounting seg. What will happen
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet
Can you please explain the difference between differentiate between consignor and consignee?
what is the new rate of c.s.t in uttraklhand
Define push down accounting?
