06-27-2007, 05:48 PM
Dear members
Please try to answer the following question
Accounting period is 30 june 2001 to 31 dec 2001,
In my question following statement is written
"Purchase invoices relating to goods received in dec 2001 but which were entered in the purchase register in 1st week of January 2002 amounted to Rs 291000."
My question is,
What period do these purchases belong to?
1.30 june 2001-31 dec 2001 or
2.next period that is 1st jan 2002
Please try to answer the following question
Accounting period is 30 june 2001 to 31 dec 2001,
In my question following statement is written
"Purchase invoices relating to goods received in dec 2001 but which were entered in the purchase register in 1st week of January 2002 amounted to Rs 291000."
My question is,
What period do these purchases belong to?
1.30 june 2001-31 dec 2001 or
2.next period that is 1st jan 2002