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where the closing stock appear in Trial Balance?
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Answer Posted / mohan
Clossing stack will not appear in trial balance, it will
appear only in balancesheet asset side, clossing stock is
our assets.
| Is This Answer Correct ? | 17 Yes | 3 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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