i would like to know is closing stock appear in trial
balance & it appears in which side in trading a/c
- 12 Answers
- 12779 Views
- I also Faced
- E-Mail Answers
Answer Posted / bharat bhushan sachdeva
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
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
how do you prepare the mis reports and prepare the one example report stating your accounts department proforma
What is EBITDA
What is the accounting treatment for finance lease in lessee's viewpoint?
After Posting the Document in SAP FICO Using the sort key then where we can see the sort key in SAP
What is Trade Recovery Estimate and how can we calculate it?
EXPAND___________LNG
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
How will we calculate T1, T2 capital in CRR(Cash Reserve Ratio)?
A crushing unit blasted 1650Mts in the month of March 2009. The rate of Royalty to be paid is rs 35/- Per MT. Advance royalty was paid rs 250000/- on 1-3-2009. pass journal entries from the advance royalty
what is exercise duty how to calculate that and how to update in tally
about tally erp9
(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
How you implemented a chargeback system?
how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%
Since the interest rates on fixed deposits are very low as compared to the other growth oriented investment options, what are the permitted investment options that a public trust like that of a private school or small credit societies have and which are permitted by charity commissioner, Mumbai
