SHOW CLOSSING STOCK IN TRIAL BALANCE

Question Posted / sandeeppanwar56

4 Answers
6513 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

SHOW CLOSSING STOCK IN TRIAL BALANCE..

Answer / ram krishna trivedy

Hi Friend,
Closing stock will never appear in trial balance only
opening stock will come in trial balance in the debit side.

Is This Answer Correct ?

6 Yes

1 No

SHOW CLOSSING STOCK IN TRIAL BALANCE..

Answer / subhash a.

Hi friend, please ask question properly. What is your
problem here? Whether it is Why, How or When to show the
closing stock in trial balance?

An entry is required to show the closing stock in TB:
How:
Closing Stock A/c Dr. xxx
To Purchases A/c xxx

Why:
To arrive at the actual cost of goods sold.

When:
when we adopt accrual system of accounting in book.

Here we are to share our problems and progress in our
careers. Hence, i request everybody to ask questions
properly and give answers properly. Best of Luck all the
friends in their careers.

Is This Answer Correct ?

1 Yes

0 No

SHOW CLOSSING STOCK IN TRIAL BALANCE..

Answer / sajjad1

In case closing stock appear in the TB then its only tale
in to the Balace Sheet Because the appearance of Closing
stock in the TB shows the Stock in trade not a stock in hand

Is This Answer Correct ?

0 Yes

0 No

SHOW CLOSSING STOCK IN TRIAL BALANCE..

Answer / sajjad1

if the closing stock appear in the trial balace then we can
only take it in the balace sheet under curren assets, we
can't take it in the Trading A/C.

Thanks

Is This Answer Correct ?

0 Yes

1 No

Post New Answer

More Accounting General Interview Questions

What is the difference between P&L account and Balance Income & Expenditure account ??

3 Answers

what is proviosion for bad debts and provision for bad and doubtfull debts

4 Answers Genpact,

Need to know the treatement of Pre-Operative Expenses and preliminary expenses. How would you differentiate these two?

1 Answers

what is rate of service tax for construction co?