closing stock
This query is : Resolved
11 February 2009
may i know Why Closing Stock Not shown in Trial Balance? moreover i want to know is any ledger maintenance reqd to ascertain c.s ?
15 February 2009
first entry of closing stock is
Closing Stock Dr
to trading acccount
this we do while preparing trading account. with this entry closing stock comes into the book. no further entry is passed thatswhy it is thereafter shown in balance sheet.
next year, it is transferred to debit side of trading account and thus closed. In that year, same cycle is repeated for that year's closing stock.
Refer AS2 regarding closing stock.
Closing Stock Dr
to trading acccount
this we do while preparing trading account. with this entry closing stock comes into the book. no further entry is passed thatswhy it is thereafter shown in balance sheet.
next year, it is transferred to debit side of trading account and thus closed. In that year, same cycle is repeated for that year's closing stock.
Refer AS2 regarding closing stock.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
