Can you tell me the closing stock entry?
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Answer Posted / prarup shrestha
Closing Stock (Assets, Balance Sheet) A/C Dr. -----
Trading or P/L A/C Cr. (Expenses, Trading or P/L A/C -----
The Dr. entry of the closing stock will remain as assets in
inventory and will be carried forward to next year where as
Cr. entry will be deducted [opening stock+purchase-closing
stock (trading)] as like expenses in Trading or P/L A/c and
not will be carried forward to the next year.
| Is This Answer Correct ? | 11 Yes | 2 No |
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