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General Accounting Discussions: Accounting Entries for consignment stock

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  1.  
    • CommentAuthorcyyping
    • CommentTimeSep 16th 2009 edited
     
    I encounter problems with the accounting entry for consignment stock .
    What are the accounting entries for consignment stock and stock received ?
  2.  
    HI

    you should be credit the stock in account entry.
    • CommentAuthorjamesparker
    • CommentTimeDec 23rd 2009 edited
     
    If the stock is insured, the accounting entries of the actual insurance amount claimed is as follows:

    Debit: Insurance Company

    Credit: Abnormal loss a/c

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