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What is journal entry of opening stock?
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Answer / praveen kunmar
Dr: To opening stock
To purchase
- purchase retun
To cariage inword
To profit or loss account
Cr: to sales
-sales eetun
| Is This Answer Correct ? | 2 Yes | 7 No |
Answer / kishore kumar d
Transfer opening stock to trading account (traders) or Manufacturing account (manufacturers), since opening stock is not a running account.
Following entry is to be passed:
Trading A/c Dr XXX (Or)
Manufacturing A/c Dr XXX
To Opening Stock A/c XXX
| Is This Answer Correct ? | 2 Yes | 8 No |
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