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where the closing stock appear in Trial Balance?
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Answer / narayan shetty
Clossing Stock not appearing in the Trail balnce. it is
only apearing Balance sheet after computing cost of sales.
Opening stock+purchase-sales=clossing stock
| Is This Answer Correct ? | 7 Yes | 5 No |
Answer / anu
Closing stock is the balancing part of (Opening stock + purchases - sales) which are already shown in the Trial balance. Again showing the closing stock gives a double effect resulting in the trial balance not tallying. Hence closing stock does not appear in Trial Balance.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ramesh
THE CLOSING STOCK WILL COME IN THE CREDIT SIDE OF THE
PROFIT & LOSS ACCOUNT
| Is This Answer Correct ? | 31 Yes | 31 No |
Answer / libin
we can take the closing stock in trial balance if it adjusted with the purchase
closing stock DR
TO purchase
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / yash
closing stock appear on the asset side as it is our asset.
It is also appeared on right side of trading account.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / d.sanjana
Closing stock is the left over asset at the end of the accounting year .So if closing stock is in trial balance then it means that it has already been adjusted with purchases (based on matching concept). If its featuring outside trial balance then it means that it has not been adjusted with purchases. So it must be shown in two places
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohan jadhav
clossing stock appears in trial balance Credit side.
| Is This Answer Correct ? | 10 Yes | 17 No |
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