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  • How To Pass The Entries in Books of Accounts When Selling Price of The Goods Is Less Than The Purchase Price?

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    Manjunathreddy Seshadri
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    When the selling price of goods is less than the purchase price, the difference is known as a loss. This loss needs to be accounted for by making an entry to debit the trading account and credit the profit and loss account for the loss amount. This loss reduces the gross profit or increases the gross loss of the business for that accounting period.

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    When the selling price of goods is less than the purchase price, the difference is known as a loss. This loss needs to be accounted for by making an entry to debit the trading account and credit the profit and loss account for the loss amount. This loss reduces the gross profit or increases the gross loss of the business for that accounting period.

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    0 Ansichten1 Seite

    How To Pass The Entries in Books of Accounts When Selling Price of The Goods Is Less Than The Purchase Price?

    Hochgeladen von

    Manjunathreddy Seshadri
    When the selling price of goods is less than the purchase price, the difference is known as a loss. This loss needs to be accounted for by making an entry to debit the trading account and credit the profit and loss account for the loss amount. This loss reduces the gross profit or increases the gross loss of the business for that accounting period.

    Copyright:

    © All Rights Reserved
    Als DOCX, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
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    How to pass the entries in books of accounts when selling price of the goods is less than the purchase

    price?

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