As such no body will maintain a closing stock / stock
account in ledger. Trial balance shows the ending balances
of the ledger only, hence there is no question of taking
closing stock in TB. It appears in adjustments and to be
shown on the credit side of Trading acct and in Balance
sheet under Assets.
Closing stock can come either in the trial balance or
outside the trail balance it depends upon the calculation of
purchase or cost of goods sold.
In first case when closing stock is the part of trial
balance then it will not be a part of trading account then
it will shown on the asset side of balance sheet
In second case when closing stock is not a part of trial
balance means it comes as adjustment with trial balance then
it comes on the credit side of trial balance and it is also
shown on the asset side of balance sheet
We are an educational institution head office in chennai.
We don't have Tin Nos. Sales Tax nos, and CST Nos. we have
only Service tax nos. if i purchase a computer in chennai
and i transfer it to our institute which is in bangalore.Is
it possible. what are the documents required for this.