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what effect closing balance and there effected ?
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Answer / varun
closing stock effect on the revenue profit and loss
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Answer / ashok kumar
closing balance is shown profit &looses ,and there effect
not able to this
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We bought some machines from Singapore (capital goods), payment made in rupees. but the invoice value is mentioned as USD. 1. party ledger shows (debit side) amount in rupees. now i need to make purchase entry. 2. shall i want to convert USD to rupees? 3. if i do like that the party ledger will be differ.. 4. somebody pls tell me the way to make purchase entry.
Audit 
