where should the closing stock amt will effect in p & l &
in b/s

Answer Posted / phani bhushan

closing balance not come in P&l A/c it comes under trading
A/c Credit side

in Balance Sheet we will show at assets side

Is This Answer Correct ?    26 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What are the columns of a journal?

657


Do you know company's payable cycle?

658


What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%

1147


Explain in simple terms what is the difference between asset, equity, and liabilities?

615


Dear sir, In tally what is list of cost centres? and what is the list of cost categories?

1528






whether bills of exchnge can come under the category of reserves and surplus

1358


How to calculate Term Loan interest and the double entry for Term Loan ? What difference between hire purchase and term loan ??

4875


What is vendor?

668


WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?

1920


contents of an invoice receipt? difference b/w statutory audit & internal audit? Where the bank book and the cash book will not reconcile? difference b/w income & expenditure a/c & p/l a/c? what is ERP? what is full form & the application of SAP? Why income statement prepared? What are the reasons where Balance sheet will not tally? How do you calculated Closing stock in the trading a/c? When will the cash book have a Credit balance? Why do you prepare p/l appropriation a/c? What are the 4 difference b/w public and private company? What do you mean by Contingent liability? Explain: Accrual Concept 1. Realisation concept? 2. Accounting concept?

2153


goods worth rupees 440 distributes free among the poor?

1593


what is the primary of for-profit organisation

1357


PLEASE CLEARLY EXPLAIN WHAT IS MEANT BY TDS,CST,ADVANCE TAX,PF,PT,ESI.CLEARLY AS IF EXPLAINING TO LAY MAN

2145


What steps would you take to locate the errors in case trial balance disagrees?

616


i want to wearies heads under direct expenses and indirect expenses

1511