Answer / murali royal

Trail Balance sheet: It is statement which contains all ledger
account balances.

So here closing stock is not a ledger account. So it won't
appear in trail balance. It always comes under adjustments
It has two fold effect
1. We have to show at credit side of Trading account
2. we have show as current asset at asset side in balance
sheet

Answer / balu

It is calculated as the Opening stock of next year

what experience you have as cashier?

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