Answer Posted / guest
Yes. Trustees are required to show an analysis of both
assets and liabilities between type of fund, usually in the
notes to the accounts but this may also be shown by
analysis in the balance sheet.
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How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
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