Why closing stock appears both in trading and Balance sheet?
Why does it doesnot appear in trail balance.
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why should we do accounts in company
Prepare a trading account, profit and loss Account and Balance sheet form the following trail balance and other adjustments as on 31.12.2009 Adjustments: 1. Closing stock R 7060 2. Allow interest on capital at 6% p.a 3. Insurance prepaid Rs 60 4. Depreciate Building and furniture at 10% p.a. 5. Wages due Rs 40 6. Provide 10% RBD and 5% on debtors and creditors 4. From
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why profits are shown as liability and loss as asset in balance sheet?
Transfer nett profit of Rs 325000/- to Reserves and Surplus
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