Answer Posted / anand n r hassan
whenver we made a business transaction we have to pass an
entry relating to that in the concerned ledger book is
called as journal entry
| Is This Answer Correct ? | 25 Yes | 8 No |
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How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
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