when is the closing stock shown in the trial balance?
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Answer Posted / rajesh panigrahi
Closing stock is generally shown as an adjusting item
outside the trial balance.In this case trial balance
carries the figures of opening balance of stocks and
purchases made during the year.But when adjusted purchases
are shown in the trial balance(Opening stock +purchases -
closing stock) instead of purchases, figures of closing
stock are also displayed on the credit side of the trial
balance.
| Is This Answer Correct ? | 22 Yes | 6 No |
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