Closing stock not considered in Trial Balance,why?
- 3 Answers
- 4088 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / krushna chandra parida
closing stock is not treated only P/L or B/S .It should have double effect .In P/L account we have to take it in credit side and in B/S it will treated as Asset.
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / shashank bhaskat
Because items of trail balance is recorded at once, and
adjustments are recorded twice and closing stock is an
adjustments therefore closing stock is not shown in trail
balance......
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / khalander
because closing stock have no ledger balance and it is an
Event for the tax purpus it should not be disclose on the
trail balance(event means it occure with in the
oraganization eg: depriciation, reservs)
| Is This Answer Correct ? | 1 Yes | 1 No |
I have deducted tds on salary from pay slip for employees for this how to deposit govrt. department. is there any form to fillup, pls tell me the which form to be used.
what is Marshalling? Reply me on this no. 9885789716
Tell me what do we mean by purchase return in accounting?
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
what is sundry debtors and creditors?
Distinguish between Profit and Loss Account and Profit and Loss Appropriation Account.
A Vat account debit balance reported in the year end trail balance would represent?
what is the D.V.T. rate from 1/10/2009
vat will be charged on any type of transportation ?
work in progress for a construction company this year is Rs.5,00,000/-.In balance sheet Rs.5,00,000/- will be debited under current asset a/c but the credit would under which account.and next year what will be the entry.please answer me in detail.
Labour charge 100000 deduction tds 5%
What are time sheets?
Audit 
