where should the closing stock amt will effect in p & l &
in b/s
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Answer / phani bhushan
closing balance not come in P&l A/c it comes under trading
A/c Credit side
in Balance Sheet we will show at assets side
| Is This Answer Correct ? | 26 Yes | 1 No |
Answer / pradeep
closing stock amount will effect in Trading account Not
P&L .and also assets side of balance sheet .
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / mohammed irfan khan
closing stock is not shown in p&l a/c it is shown in
trading A/c credit side
and in balance sheet it is shown as an asset side(current)
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / rajesh
Closing stock is generally related to manufacturing /
trading entity. Normally, it appears as last item on the
credit side of trading account. In the balance sheet, it
appears under the group "Current Assets, Loans & Advances".
Closing stock may be of raw materials, work-in-progress,
stores, spares, consumables, finished goods.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / d.kavitha
closing stock will not be effected in the P & L A/c , It
will be effected in the Trading account sales side, In the
balance sheet under current Asset closing stock effect.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / nyna
for profit & losses
cost of good sold = beg invty + purchases - invty end
balance sheet- asset side
beg invty + purchases - good sold = end invty
| Is This Answer Correct ? | 2 Yes | 1 No |
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