Ask Experts Questions for FREE Help !
Ask
    taurus10's Avatar
    taurus10 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 5, 2010, 12:54 AM
    Journal entry for inventory damage
    Hi, what is the correct entry when I have a 1 damage on my inventory?thanks!
    hamzashakaa's Avatar
    hamzashakaa Posts: 161, Reputation: 8
    Junior Member
    		  
    #2

    Jun 5, 2010, 05:23 AM

    dr. Damaged inventory loss
    Cr. Inventory
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Inventory Loss/Shrinkage journal entry [ 5 Answers ]

Hi, If I did a inventory count I came up with a loss of about $8k, to record this loss what would be the journal entry under a peroidic and a perpetual system? Also is there a difference between inventory loss and shrinkage?

Journal Entry / Double-entry software needed [ 5 Answers ]

Hi, I am looking for a good software to use for daily journal entries and adjustments, that will allow me to create at least a balance sheet & income statement and perhaps a few reports (like inventory, accounts receivables). I need a real double-entry & simple reliable software. Peachtree &...

What do I debit/credit in journal entry/adjusting entry? [ 1 Answers ]

Hi. I am unsure about the correct way to debit/credit these entries. Can someone help me? Window Washing Company opened on July 1, 2010. During July the following transactions were completed: July 1 Issued 14,456 shares of common stock for $14,456 cash. July 1 Purchased used truck for...

View more questions Search