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Closing stock not considered in Trial Balance,why?
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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 |
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