Skip to content
Sign inRegister

Ask the Tutor ACCA FA

Salea return

DKDilawar khan7y ago
Hello sir, Sir please tell me that whether goods return in january related to the previous year is adjusting event or not, year end is december,.? Do we net the previous year sales or adjust the current year sales
John MoffatJohn MoffatTutor7y ago#1
What do you mean by 'related to the previous year'? I assume that you mean that the goods were purchased the previous year, but were then returned in the current year. This is not an adjusting event - there is no reason why it should be.
Sign into reply to this topic.