EXTENDED TRIAL BALANCE
Options
KAGO
Registered Posts: 1
Hello everyone..i need clarity on something, if a part question is like this: Stock has been valued at cost on 30April2005(year end).However, this figure includes old stock, the details of which are as follows:
-cost price of old stock is $3660
-Net realisable value of old stock is $2060
Also included is a badly damaged car door which was to have been sold for $80 but will now have to be scrapped. The cost price of the door was $60
How do i deal with this? how do i record this in the adjustment column, the P&L and the balance sheet??
-cost price of old stock is $3660
-Net realisable value of old stock is $2060
Also included is a badly damaged car door which was to have been sold for $80 but will now have to be scrapped. The cost price of the door was $60
How do i deal with this? how do i record this in the adjustment column, the P&L and the balance sheet??
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 264 NEW! Qualifications 2022
- 144 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 45 AAT Level 3 Diploma in Accounting
- 66 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 268 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership