where should the closing stock amt will effect in p & l & in b/s

Categories >> Accounting >> Accounting General
Suggest New Category

where should the closing stock amt will effect in p & l &
in b/s

Question Posted / guest

8 Answers
14025 Views
Google, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

where should the closing stock amt will effect in p & l & in b/s..

Answer / phani bhushan

closing balance not come in P&l A/c it comes under trading
A/c Credit side

in Balance Sheet we will show at assets side

Is This Answer Correct ?

26 Yes

1 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / pradeep

closing stock amount will effect in Trading account Not
P&L .and also assets side of balance sheet .

Is This Answer Correct ?

9 Yes

2 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / mohammed irfan khan

closing stock is not shown in p&l a/c it is shown in
trading A/c credit side
and in balance sheet it is shown as an asset side(current)

Is This Answer Correct ?

6 Yes

0 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / rajesh

Closing stock is generally related to manufacturing /
trading entity. Normally, it appears as last item on the
credit side of trading account. In the balance sheet, it
appears under the group "Current Assets, Loans & Advances".
Closing stock may be of raw materials, work-in-progress,
stores, spares, consumables, finished goods.

Is This Answer Correct ?

5 Yes

0 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / d.kavitha

closing stock will not be effected in the P & L A/c , It
will be effected in the Trading account sales side, In the
balance sheet under current Asset closing stock effect.

Is This Answer Correct ?

2 Yes

0 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / nyna

for profit & losses
cost of good sold = beg invty + purchases - invty end

balance sheet- asset side
beg invty + purchases - good sold = end invty

Is This Answer Correct ?

2 Yes

1 No

where should the closing stock amt will effect in p & l & in b/s..

Answer / jubeda

b/s