Closing stock not considered in Trial Balance,why?

Answer Posted / khalander

because closing stock have no ledger balance and it is an
Event for the tax purpus it should not be disclose on the
trail balance(event means it occure with in the
oraganization eg: depriciation, reservs)

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Tell us what is the abbreviation for the accounting terms debit and credit?

658


Who is considered the father of accounting?

691


What is the Technology used to carry out trades? Pls Tell me as early as possible.

3078


How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500

37726


adjustment entry showing in tally such as outstanding salary prepaid salary etc.

2748






Do you know what is project implementation?

610


How do I record a prior year property tax refund on sale of asset due to overvaluation

979


can any accountant forward format of daily or monthly mis format for accounts and finance dept!!

1424


how to geting finished goods cost with included it's all BOM and all production order cost in sap?

1443


Do you know how many types of business transactions are there in accounting?

609


What are accounting entities?

611


what is difference among credit, loan, advance

1444


under which ledger should i make opening work in progess and closing work in progress

1595


If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes

2157


Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.

1502