Partner Zone

opening stock and stock loss

sasasasaT
2 Posts
User

2Posts

0Kudos

0Solutions

opening stock and stock loss

Hi, i ve P/L opening stock, purchases and closing stock accounts. At the beginning of the second year, i debit the opening stock account (P/L) and credit the inventory(B/S), during the month, 100% stock loss happened, thus there is no closing stock at the end of month. what entry should i make for the stock loss? my experiences told me i should debit a expenses account called stock loss account, but which account should i credit? Thank you.

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post