Interested to Buy Any Domain ? << Click Here >> for more details...
Can you tell me the closing stock entry?
- 21 Answers
- 47817 Views
- Alpha, Cyber Matrix, Satyam, I also Faced
- E-Mail Answers
Answer Posted / prarup shrestha
Closing Stock (Assets, Balance Sheet) A/C Dr. -----
Trading or P/L A/C Cr. (Expenses, Trading or P/L A/C -----
The Dr. entry of the closing stock will remain as assets in
inventory and will be carried forward to next year where as
Cr. entry will be deducted [opening stock+purchase-closing
stock (trading)] as like expenses in Trading or P/L A/c and
not will be carried forward to the next year.
| Is This Answer Correct ? | 11 Yes | 2 No |
Post New Answer View All Answers
Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?
How can i get GR form (GR No.) for Exports ? please give me a link of website with steps ?
what is internal audit
Hi...At present am doing my second year B.Com.I want to do Chartered accountant.Could you send me the details such as when i can start this course,levels of course,proceudre to start( training and prerequirement if any)?And also do let me know is it possible to start from madurai.Note: I wanted to start by regular classes not by distant education. Thanks in avance.
Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .
a) What are the Golden Rules of Accounting? What are the 14 Principles of Accounting
Tell me about how you have left a position better than you found it
What is the important of cash in a business unit
Expand CASA
What is Provision for expenses?
How do you handle lack of direction or working in chaos
Expand---------ODMT
What is functional area,trading partner in sap fico
explain sales/purchase accounting?
What is miscellaneous expense and when it is used
