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why should we treat closing stock credit side in trading
account , and why the reason the closing stock should not
appear in the trial balance ?
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Answer Posted / gaurav bhatia
For the purpose of calculating the cost of goods sold we
use Opening stock +Purchases+Direct Expenses-Closing Stock
that is the reason we shows Closing stock in the credit
side of Trading account also for calculating the exact
gross profit it should be shown on the credit side because
it is the part of that purchases which is left out ( not
sold)
| Is This Answer Correct ? | 65 Yes | 4 No |
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