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Goods have not been insured but …

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Goods have not been insured but it is thought to insure them in future.The insurance premium is estimated at Rs.400 per year. How will this adjustment be treated while calculating adjusted profits. (Chapter 2 change in PSR)

Posted by Mannat Sethi 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Garg 6 years, 1 month ago

No adjustments are to be done since it is a future transaction and does not affect current or previous years accounts. But in DK Goel book it has been subtracted from all the years. So just write a note for whatever treatment you are doing

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