what is Opening & Closing Balance?
- 4 Answers
- 15506 Views
- EDS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / akshay
Opening balance is that, cut off or last year remain
balance & closing balance is that this year balance is
using for next year.
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / pravin kamble
For a new company / individual, if he opens his account in
bank on 1st Jan 2010 agreed to closed his books of accounts
on 31st Jan 2010, in this criteris, the balance which is
appearing in bank statement at the end 1st Jan 2010 is his
opening balance for the month & on 31st Jan 2010 the total
remains (after calculating all the debits & credits which
he had received in his bank) is his closing balance.
But if he continues his account for next few months so the
closing balance of his account at the end of agreed period
will be (it has to be) opening balance for the next month.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / prathiba.p.v@gmail.com
Opening stock is the starting stock, which was brought from
the previous year.And closing stock is the value of unsold
goods at the end of the trading period.Closing stock is
valued at the cost price or the market price, which is
lower. It should be noted that the closing stock of the
current year, will be the opening stock for the next year.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / shefeek cv
opening balance is the balance which is carried forward
from previous year and closing balance is the remaining
balance carried forward to the coming year
| Is This Answer Correct ? | 4 Yes | 0 No |
ATTENTION PLEASE.All the answer posterors will be sent the complte key on the questions if requested thru mail id Answered but misspelled pl correct Happening as a consequence of transaction the reult is(Ans- TNEVE)
At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?
What is conta entry
Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
please send me some previous sbi clerical interview questions to my email id....
Define Accrual & what is accrual interest?
What is Mar-gen Of Safety ?
what is the difference between liquid asset and fixed asset
Since minority interest is balance sheet item, and got brought foward figure, how to disclose brought forward figure in consolidation work sheet instead of we make adjustment on current year to show their share in subsidiary.
What is put option, call option, mutual fund?
What is diff. between mutual fund and security?
What is meant by Kpo?If possible tell me the process too?
Audit 
