When the closing stock will be reflected in trial balance &
at what value
Answer Posted / auditya
it may appear only when the cost of goods has been calculated and appears on the debit side of the TB, (ie., after adjustment of closing balance).then the closing stock will appear @ the value you adjusted earlier( as a debit item)
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
what is difference among credit, loan, advance
OUR COMPANY IS ENGGAGED IN CONSTRUCTION ACTIVITY .WE ARE GOING TO PURCHASE EXACAVATOR MACHINE FROM THE INTERSTATE.WHETHER THE ABOVE PURCHASE COVERED BY ISSUING THE C FORM.
What is an accounting loss?
What is WCT ? Who will Resposible for deposit WCT Means TDS Deductor or Material supplier. Is TDs applicable on WCT. Who will responsible for deposit WCT. I Am New For this Field. Thanks in advance...
What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?
What is invoice processing can u explain it?
What does an accurate trial balance suggest?
What are the advantages of double entry system?
Explain how you can adjust entries into account?
Contrast bookkeeping and accounting
If balancing account is not assigned to company & is assigned to department wat will be the effects
what is capital reserve
Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?
During execution of Works Contract,If Contractee(Customer) supply goods to contractor, then it should be shown in Invoice as deduction or no need to show in Invoice.