Interested to Buy Any Domain ? << Click Here >> for more details...
Weather Closing Stock appears in Trial Balance. If not why
and if yes how.
- 5 Answers
- 9930 Views
- I also Faced
- E-Mail Answers
Answer Posted / bhargavi
There is possibility of appearing closing stock in trial
balance when the entry passed is
closing stock A/c dr
To purchases
The effect of above entry is te reduce the debit in
purchases account.The stock account then not entered in
trading a/c it will then appear in trial balance
generally it is passed as closing stock A/c dr
to trading A/c.
The basic principle is matching concept.since cost incurred
w.r.t to unsold stock should not appear in this year books
of account it is reduced from purchases or by crediting
trading a/c and shown as cost of next years by writing as
opening stock.
| Is This Answer Correct ? | 7 Yes | 0 No |
Post New Answer View All Answers
explain the financialand economic meaning of investment?
payroll calculation procedure explain completely?
plz send me the apptitude question papers of wipro
How exchange rates are maintained in sap
WHAT IS DIFFERED INCOME TAX AND WHERE IT SHOWS IN BALANCE SHEET?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
i have working in contruction company i want billing outside delhi pls. tell me can i bill with tax invoice party provide tin no.
What is EBITDA
what are the important steps to take during the conversion of an accounting system.
What is the treatment of Capital Work in Progress as per the International Accounting Standards.
can anybody send me interview question&answer to me in accounts and finance and income tax....my mail.id...jagathis1986@gmail.com
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
I am going for interview in Cross domain for Finance & Accounts opening. If any one having any question paper or question that might be asked in interview pls send me on my mail id -ruchi_singh759@rediffmail.com, or here.
Enter the following in the petty cash book, using appropriate expenditure column headings. the book is kept in the the amount of imprest system. the amount of imprest is #40,000
What do you mean Business
