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when is the closing stock shown in the trial balance?
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Answer / laxmi agarwal
closing stock suld be shown in the t.b at the end of
financial year so dat inventories are properly valued
| Is This Answer Correct ? | 1 Yes | 6 No |
Answer / ratnesh shukla
Closing stock play a very vital role in preparation of
financial statement .i.e.trading profit and loss account.
without C.S.we cannot find the exect position of financial
statement i.e.gross profit and gross profit is transfered
to P & L account for Net Profit.
and also without C.S.we cannot find the finalcial ratio
i.e.average stock,and closing stock to turnover ratio and
all that.
| Is This Answer Correct ? | 1 Yes | 6 No |
Answer / sk n rasool
At the end of the FY ie. 31st March and its shown in credit
side under indirect income.
| Is This Answer Correct ? | 3 Yes | 10 No |
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outstanding assests
Alpha Co. issued to the public for subscription 40000 shares of rs 10 each at discount of 10%payable as rs. 2 each on application, allotment and first call and rs.3 on the final call. Applications were received for 60000 shares and allotment was made pro-rata to 80% of applicants. R to whom 2000 shares were allotted paid only the application money, and S who had applied for 3000 shares,paid the entire call money due along with the allotment. pass journal entries to record the above transaction.
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