Why we show always closing stock in credit?
Answer Posted / narayan bhusal
Matching Concept
(expense must be related to revenue)
according to matching concept we put the closing stock on
credit side of trading a/c.
only those
expenses which are related to earn the revenue are debited so that we can arrive at accurate profit/loss &
closing stock which is not utilized yet to earn revenue but
we use in future.so,put on credit side
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
Cash bill of sale so the company can deduct the amount.
What is meant by public accounting?
What methods do you use to discover sales opportunities?
why are accounting firms needed?
as muthoot finance is a finance co,so what would be pattern of asking in relation to finance and a/c question?will it be basic or general or it would be market related situation?plz if help me anybody...
Tell me what is the equation for acid-test ratio in accounting?
What is good accounts Process & Execution capabilities?
How will I post entries to Tally If I purchased a Car in Loan. The principal Amount = 62930 Interest = 6846 Total = 69776 We have to pay Rs 1191 every month for 4 years which include Principle amount and interest. how can I post the monthly entries to tally
Assuming that a firm pays tax at a 50 per cent rate, compute the after tax cost of capital in the following cases: I. A 8.5 % preference share sold at par. II. A perpetual bond sold at par, coupon rate of interest being 7 per cent III. A ten year, 8 percent, Rs.1000 par bond sold at Rs.950 less 4 percent underwriting commission.
FROM WHERE I WILL GET PREVIOUS QUESTION PAPER OF JUNIOR ACCOUNTS OFFICER TEST OF B S N L
What is dd and a in oil and gas accounting?
How to post advance paid to a supplier in oracle jd edwards
Tell me in balance sheet, where do you show tds?