Using the DLA to buy stock?

MTJR
MTJR Registered Posts: 33 Regular contributor ⭐
in General accounting discussion
Hi,

Quick question - if the director’s loan account has a credit balance, can the director take stock for own use and just Dr DLA
Cr Sales
with the selling price, not at cost

Thanks

Comments

  • Clintm15
    Clintm15 Registered Posts: 248 Dedicated contributor 🦉
    edited May 2023
    You wouldn't use Sales.

    DR - DLA
    CR - COGS

    With the cost amount, not selling price.
    AAT
    Level 2 - 2011
    Level 3 - 2012
    Level 4 - 2013

    ACCA
    F4 - Corporate Law - Dec 2015 (passed)
    F5 - Performance Management - Dec 2014 (passed)
    F6 - Taxation - Dec 2013 (passed)
    F7 - Financial Reporting - Jun 2014 (passed)
    F8 - Audit & Assurance - Dec 2015 (passed)
    F9 - Financial Management - Jun 2015 (passed)

Categories

Privacy Policy