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Weather Closing Stock appears in Trial Balance. If not why
and if yes how.
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Answer Posted / ali imran
It vary from company to company and policy to policy. Closing stock is generally evaluated at the end of year (because after shutting all business operations down for current year relating to stock, the stock that remains is called closing stock. If it still could be used in current year, then it will not be closing stock) and that date of evaluating lays between the balance sheet date and financial statement preparation date. Obviously when books are closed then financial statements can be made. So that the way closing stock normally does not appear in trial balance. (because trial balance is closed at balance sheet date)
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