Interested to Buy Any Domain ? << Click Here >> for more details...
what is goods in transit and how to pass an entry
- 20 Answers
- 178614 Views
- SK Industries, I also Faced
- E-Mail Answers
Answer Posted / cma ilyas
If purchase is already recorded, but goods are in transist, then the entry will be :
Goods in transit a/c Dr
To Purchase a/c
Goods in transit is shown as a current asset in the balance sheet
When goods are recieved, the entry will be reversed:
Purchase a/c Dr
To Goods in transit a/c
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
what is the system of accounting and banking in cooperative bank?
what is the difference between Tally ERP and SAP FI ECC?
I was born on 4th may 1981 iam i eligible to apply for SBI clerical job vacancy
please give the sbi bank clerk exam paper model in last five years?
EXPAND___________NAC
OUR BOOKS & ITR MISMATCH FOR RS.15000/- ON ACCOUNTS OF TDS ON RECIEPTS FY-09-10 . KINDY GIVE CORRECTION ENTRY TO MATCH THE BOOKS WITHI ITR. DEVENDRASINGH086@GMAIL.COM
what is dividend? how do the use an accountancy?
What is back value adjustment/correction in Nostro Reconciliations?
Hi any one send me the configuration steps for make to order and make to stock in sap .send to my mail id c.sujatha2008@gmail.com
what are the type of cash flows?
income from depreciated asset is profit or loss?
EXPAND______________IARCS
A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
Pls Give me Solution for me. Bcz i m persuing b.a iii But now i m working in accounts . So what i do In future .
Explain Cash Basis of accounting
