Interested to Buy Any Domain ? << Click Here >> for more details...
Weather Closing Stock appears in Trial Balance. If not why
and if yes how.
- 5 Answers
- 9958 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / bhavani
closing stock will not appear in Trial Balance , it will be
shown in adjustments
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / bhargavi
There is possibility of appearing closing stock in trial
balance when the entry passed is
closing stock A/c dr
To purchases
The effect of above entry is te reduce the debit in
purchases account.The stock account then not entered in
trading a/c it will then appear in trial balance
generally it is passed as closing stock A/c dr
to trading A/c.
The basic principle is matching concept.since cost incurred
w.r.t to unsold stock should not appear in this year books
of account it is reduced from purchases or by crediting
trading a/c and shown as cost of next years by writing as
opening stock.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / ali imran
It vary from company to company and policy to policy. Closing stock is generally evaluated at the end of year (because after shutting all business operations down for current year relating to stock, the stock that remains is called closing stock. If it still could be used in current year, then it will not be closing stock) and that date of evaluating lays between the balance sheet date and financial statement preparation date. Obviously when books are closed then financial statements can be made. So that the way closing stock normally does not appear in trial balance. (because trial balance is closed at balance sheet date)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / y.rajasekhar
Closing Stock will not appear in Trial Balance because the closing will be calculated in the basis of either Market price or cost price whichever is less
| Is This Answer Correct ? | 0 Yes | 0 No |
When we deposits FBT? How to calculate FBT?
What is Capital Expenditure
28 Answers Capital IQ, Genpact, Infosys, SMI,
PLEASE GIVE ME THE LIST OF ACCOUNT TYPES AND THEIR HEADS RESPECTIVELY.
why a accountatn make the bank reconcellation statement. 2. if you are only accountant for company what will you do if you come daily on job.
Two candles of equal lengths and of different thickness are there. The thicker one will last of six hours. The thinner 2 hours less than the thicker one. Ramesh light the two candles at the same time. When he went to bed he saw the thicker one is twice the length of the thinner one. For how long did Ramesh lit two candles ?please describe full description
how is caluclation of over time (O.T)
Expand ------MEF
What is intangiable asset?Which contents are to be verified during cheking the Transporters' bills?
libilities accounts come under what type of accounts(under real, nominal or personal) if its nominal, generally nominal will not come in balance sheet, why we shown in balance shhet?
why do you think you are sutable candidate for this post
Gross salary is 762000, PF deducted 38000, ESI deducted 6700, TDS deducted 6000, Advance deducted from staff 12000, net salary sent to bank 699300. How do we enter journal in Tally 7.2
What is the important of cash in a business unit
Audit 
