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| Corporate Practice bd |
Transfer Journal Entry for Waste Cotton-with Practical Examples
A Transfer Journal Entry for waste cotton is used to record the movement of waste cotton from the production area to a different account or location, often reflecting the disposal or repurposing of the waste. This entry helps in maintaining accurate inventory records and accounting for the cost associated with waste materials.
Table of contents:
1.ABC company LTD received waste material from XYZ Company LTD our sister concern.
2. XYZ Company LTD send waste materials to ABC company LTD our sister concern.
Voucher No. 01
ABC company LTD received waste material from XYZ Company LTD our sister concern:
In the Books of ABC company LTD
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Inventory Account
|
***** |
|
|
|
Loan from XYZ Company LTD(waste Material) |
|
***** |
|
Narration:
ABC company LTD received waste material from XYZ Company LTD our sister concern:
In the Books of XYZ Company LTD
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Loan to ABC company LTD (waste Material) |
***** |
|
|
|
Inventory Account |
|
***** |
|
Narration
XYZ Company LTD Transfer waste materials to ABC company LTD our sister concern.
Voucher No. 02
XYZ Company LTD send waste material to ABC company LTD our sister concern:
In the Books of XYZ Company LTD
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Loan to ABC company LTD |
***** |
|
|
|
Inventory Account |
|
***** |
|
Narration:
XYZ Company LTD send waste material to ABC company LTD our sister concern.
In the Books of ABC company LTD
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Inventory Account |
***** |
|
|
|
XYZ Company LTD |
|
***** |
|
Narration:
XYZ Company LTD Transfer waste materials to ABC company LTD our sister concern.