Answer Posted / amit kumar
To tally the Accounting Books with the Bank Statement for
which there could not be any descripancy. If arises than
could be alert to the bankers as well as company's
management so that they could take the decision.
| Is This Answer Correct ? | 7 Yes | 2 No |
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How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
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