The Trial balance will show only the Opening Stock & Purchase for any given period, but for Profit and loss, we have to calucate the Opening + Purchase – Closing stock ?
- 1 Answers
- 1893 Views
- I also Faced
- E-Mail Answers
however when u manually make a P & L from Trail balance, the closing stock will be simple, Add all the Revenue less the expenses & Deprication, and there will be a figure in Trial balance for Retained earning this difference should match with your closing stock Physical inventory valuatation (is this statement correct?)
| Is This Answer Correct ? | 0 Yes | 0 No |
why we use 'To' when crediting an entry in journal and sometimes not use 'To'...??
what is interest on purchase consideration?
difition of reserve & surplus
which chart of accounts is used for day to day postings?
If A car in Name of company got damaged. and total amount of its repairing is 15,000/- and insurance company give me 10,000/- of it. Balance amount we paid through bank or cash .Then What is the entry for this in books.Kindly mention Ledgers with their respective Group Head.
What is the Difference Between Sales Tax and VAT ?
Which kind of transactions are not recorded in the books of account?
As a Manufacturer we are paying service Tax on Inwards freight and the same amount we are taking as a credit against payment of Excise duty. So,Pls clarify how to pass JV
How to split the company in tally?
x pay incentive to y with tds@10%.what is the journal entry in the books of x & y?
Do you have any professional experience in this field?
What is the meaning of summarizing?
Audit 
