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Why closing stock wont appear in the Trial Balance?
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Answer / shubham jain
in trial balance on DR side raw material consumed has shown
which means opening stock+purchases-closing stock i.e it
becomes part of raw material consumed
alternatively closing stock can be shown by showing opening
stock and purchases on DR side and closing stock on credit
side
| Is This Answer Correct ? | 8 Yes | 3 No |
Answer / pisey
Stock that the company sell is gain in equity account,
which has:
- Retained earing
- common/prefer stock
- gain in capital
It has record in the equity account, so when closing in
trial balance no stock closing account...
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / satyanarayana
closing stock is a working progress thats way do not
consideration
| Is This Answer Correct ? | 0 Yes | 4 No |
You placed an Order for some books but it was not delivered on time or the books were damaged, so are write Complaint Letter to the Shopkeeper about it.
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hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
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