how to calculate closing stock?
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Calculation of Book Stock (Trading Company):
Opening Stock + Purchases - Purchase Returns - Cost of Goods
Sold = Closing Stock.
Calculation of Book Stock (Manufacturing Company):
Opening Stock + Purchases - Purchase Returns - Cost of
Materials used in manufacture = Closing Stock.
For finalisation of accounts & audit at the year end, take
physical stock & value it by applying unit rate to stock
quantity at cost or realisable value whichever is lower.
Generally there will be difference between the book value &
physical stock value & physical stock value arrived as above
should be taken in to P&L A/c & Balance Sheet.
Is This Answer Correct ? | 33 Yes | 4 No |
Answer / parika
opening stock plus purchase less consumption of stock =
closing stock
Is This Answer Correct ? | 10 Yes | 8 No |
Answer / umamaheshwara rao
opening stock + purchase - sales = closing stock
Is This Answer Correct ? | 8 Yes | 20 No |
If i paid cash to my merchandiser(employee) in his imprest account.& if he is not able to arrange the purchase bill than how will be his account settled or what will be the entires for this process.
what is break even point
what are the types of leverage ratios?
What do you mean about TDS And Sale tax retrun
what is golden rules of account?
what is a journal entery of goodwill?
15 Answers Capital IQ, Genpact, Sujana,
a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry
I have 4 four category of emplies say Admn/Markting/Procurment/Production and the employees of thee category have there bank accounts in 5 or six different banks. How can i generate Payroll advice for the employees having account in A Or B OR C Or D falling under above category
WHAT IS DEPRICIATION?
Pls tell me the basic rules of accounts for interview in finanace or accounts section
What do you mean by deffered expenses?
Explain me what is important to effective market analysis?