Interested to Buy Any Domain ? << Click Here >> for more details...
Why does closing stock does not appear in trial balance?
- 1 Answers
- 4790 Views
- LCCI, I also Faced
- E-Mail Answers
Answer / tan
After I search the answers on the internet , one of them
states like this :
Trail Balance sheet: It is statement which contains all ledger
account balances.
So here closing stock is not a ledger account. So it won't
appear in trail balance.
closing stock is not taken into account in a trial balance
is because a trial balance is a balance of all ledger
account a given point in time
___________________________________________________
Personally speaking , I agree with the statement "closing
stock is not a ledger account" , but the fact is that the
opening stock needs to be included when preparing the trial
balance , so does it mean that opening stock is a ledger
account ?
| Is This Answer Correct ? | 8 Yes | 0 No |
What GP resew of balance sheet taking.
An importer import some goods @10,000 us dollar on cif basis following dollar rates avilable on the date of presentention of bill entry.(1) Rbi floor rate 46.35,(2) rate notify by CBE AND C under section 14(3)(a)(i)of custom act Rs.46.55 (3) Rate at which bank has reliased the payment from importer Rs.46.58, what will be assessable valu according to custom act?
entry for outstanding expenses
25 Answers Adidas, Capital IQ, Ernst Young,
Which type of transactions are used in TallyJournal?
Company Providing Mobile handset to all employee on free of cost and returnable basis while leaving the job. My query is- how i account the above transaction - under fixed asset or mobile expenses- ( indirect exp) or staff welfare ( indirect exp ) Kindly suggest
goods lost by fire rs10000 & insurance claim received for the same rs8000.what are the effect of this entry in final accounts?
17 Answers Amma Enterprises, BHU, HCL, Syntel,
Topic contra entry; How to post cash withdrawn from bank for office work? the journals to be passed?
What is trial balance? What does an accurate trial balance suggest?
If A invested Rs.50000/- in F.D. & After maturity he got 56500/-. He added more Rs.43500/- in it & make F.D. for Rs.100000/- how i pass this entry. still bank has not credited 56500/- to A`s Account. please answer me
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
Tell me how many types of business transactions are there in accounting?
1) XYZ Ltd bought goods for Rs.200000 from ABC Ltd. The co gave 10% discount. give journal entries in the books of ABC Ltd and XYZ Ltd. 2) Goods bought for Rs.400000. While transporting goods destroyed. Insurance co agreed to pay 75%. post journal entries.
Audit 
