1.Employees had taken inventory with rs.1,00,000 (cost price rs.75,000) on the eve of deepawali and the same was deducted from their salaries in the subsequent month. The journal entry for this is: Sa

Question

Sujith · Answer

Ok,if the employees or owner itself withdraw the goods we must consider cost price and if the business sells the goods to customers we should consider actual price na??

Tanishq · Answer

₹1,00,000 includes the gross profit which the firm would have earned if the goods were sold as for a normal business transaction, but here the firm cannot earn the profit so the value of the inventory is taken at the cost price.

Deepanshu · Answer

Taken inventory is 100000 rs. Hai vo selling price hai aur entry hamesha cost price par hoti hai

Deepanshu · Answer

Apki ki hui is right

1.Employees had taken inventory with rs.1,00,000 (cost price rs.75,000) on the eve of deepawali and the same was deducted from their salaries in the subsequent month. The journal entry for this is: Sa

4 answers

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