Interested to Buy Any Domain ? << Click Here >> for more details...
what is Opening & Closing Balance?
- 4 Answers
- 17115 Views
- EDS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / akshay
Opening balance is that, cut off or last year remain
balance & closing balance is that this year balance is
using for next year.
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / pravin kamble
For a new company / individual, if he opens his account in
bank on 1st Jan 2010 agreed to closed his books of accounts
on 31st Jan 2010, in this criteris, the balance which is
appearing in bank statement at the end 1st Jan 2010 is his
opening balance for the month & on 31st Jan 2010 the total
remains (after calculating all the debits & credits which
he had received in his bank) is his closing balance.
But if he continues his account for next few months so the
closing balance of his account at the end of agreed period
will be (it has to be) opening balance for the next month.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / prathiba.p.v@gmail.com
Opening stock is the starting stock, which was brought from
the previous year.And closing stock is the value of unsold
goods at the end of the trading period.Closing stock is
valued at the cost price or the market price, which is
lower. It should be noted that the closing stock of the
current year, will be the opening stock for the next year.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / shefeek cv
opening balance is the balance which is carried forward
from previous year and closing balance is the remaining
balance carried forward to the coming year
| Is This Answer Correct ? | 4 Yes | 0 No |
EXPAND______________RDO
SIR, Tell me the which software useful for the accounting procees . what is difference is between the finacial accounting and mangemeting what are responsebilitys for a company .
If a software is being purchased which can be used at its own for the purpose of implementation of computerisation of various customer accounting system. then what will be the treatment for the same in accounts ??? whether it will be considered as intangible assets or inventory?
Expand W T O
lis and explain the parties involved when a cheque is issued
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
why you want to leave current job ?
Expand---------DRC
why share capital shown in liability side of a balance sheet
What is rules of depricaition in company act.or IT act.
What is Merger?
which type of account is income tax is it a personal,real or nominal or what?
5 Answers Asian School of Business Management,
Audit 
