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SHOW CLOSSING STOCK IN TRIAL BALANCE
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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 |
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 |
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 |
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 |
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