can u tell me what is the process of calculating closing
stock?
Answer Posted / job george
PHYSICALLY WE SHOULD VERIFY THE CLOSING STOCK AND SHOULD APPLY MARKET PRICE OR COST PRICE WHICHEVER IS LESS
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
What is your role in planning?
What are the different fields of accounting?
Why in KE5Z report in SAP Accounting Data not found?
Do you know company's payable cycle?
what is the basic difference between pooling of interest method and purchase method in amalgamation
From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast
What is use of subject history in banking?
How to make a vat entry in books including setoff?
Tell us what is the abbreviation for the accounting terms debit and credit?
What are the uses of journal in accounting?
what is t code of gr/ir report?
Explain what knowledge should financial accountant have?
At the time of death of a partner, firm gets ________ from the insurance company against the Joint Life Policy taken jointly for all the partners. (a) Policy Amount. (b) Surrender Value. (c) Policy Value for the dead partner and Surrender Value for the rest. (d) Surrender Value for all the partners.
In the balance sheet, where do you show tds?