why opening stock posted in expences side in trading account

Answer Posted / janvi

Creditors are liabilities of a b's so it is credited in journal like this opening balance is previous year closing balance so it is our liability that's why it is Dr. to trading account

Is This Answer Correct ?    2 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

I want to know that , If we called a person for one day for drive our company van or any other purpose. so how it will accounted in our (i.e companies) Books of accounts....

839


Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?

2083


STATE THE DIFFERENCE BETWEEN BANKING FIS AND NON BANKING FIS

2165


How often is the stock market ticker updated? 15sec? 30sec?

2377


i have cleared c.s inter. for the purpose of training i want to know the companies who are providing training of c.s in punjab state.please help me in this.

1827






what is mean by tax holiday?

2133


how to solve the problem of sechdule date problem in sap proframme.

2056


In the case of Internal Reconstruction of company Accrued Int. On debenture / Outstanding int. On debenture transfer or not in capital reduction a/c . Explain

1095


How to analyse the day to day sensex Points or Forex Values?

2263


sir i want aao lic exam model question paper

2378


I am Simrat Kaur. I am persuing graduation from P.U. I have an experience of 14 months as a CSA. But i hav an experience letter of 6 months.But I can show my joinin letter of the other job. I hav knowledge of basics of computer & internet. Actually, m findin job in chandigarh. I am findin the right opportunity. so, Can u plz help me in findin the right job?? Can u plz tel me abt where interviews r goin on?

1992


Is it possible to list only a portion of Equity Shares leaving the balance as unlisted?

2640


1) What is the steps of delisting the listed company 2) How to spliting the listed company shares 3) Which way the company should function when it has paidup capital is equal or more than 5,00,00,000/- (I mean which way the company should do it work in the company Act 1956. Is the company have to appoint a CS and and managing director of a any other things which is compulsory for these kind of company which paid up capital is 5,00,000/-

1967


Can anybody tell when sbh dispatches appointment letters for Clerical for people completed medical and scrutiny of documents on 15/08/09?

1913


why your choseing bank of america

2267