Why we do show Closing Stock in under Trial Balance & not
in Trial Balance
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Answer / firoz
Trial balance is the summary of accounts means balance of
accounts but closing sotck is not any relation with any
accounts.
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Answer / sandeep
Dear,
Closing stock can also be entertained in trail balance, but
u have to post a reverse entry for this with opening stock.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / lakshmikanth
the main reason is closing stock does not affects any accounts in the books, but this will be taken into balance sheet preparation. we consider closing stock under the head of current assets.
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Answer / sajjad1
All the accounts of the company show in the trial balance
butt closing stock is not appear in the trial balance
beacause we calculate the closing stock physically and its
become our revnue at the end of the financial year while
closing of accout.
so time its happen closing stock appear in the trial
balanca its mean this is our stock in trade on this case
this only effect on the Balance Sheet under Current Asset
not in the Income Statement.
| Is This Answer Correct ? | 0 Yes | 1 No |
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