closing stock

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krissun

krissun (Querist)
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11 February 2009 Why Closing Stock Not shown in Trial Balance?

NITIN

NITIN (Expert)
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11 February 2009 Since closing stock affects or entered in both p and l and b/s therefore it is not entered in trial balance. Apart from c.s those items which are require to be entered twice in financial statement is not entered in TB

krissun

krissun (Querist)
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11 February 2009 thanks but can u pls explain in detail ?

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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12 February 2009 The amount which appear in the trial balance are the closing balances of the a/c's.
Since there is no recording entry of closing stock passed in the a/c's it doesn't appear.
it can also appear if we pass an journal entry before closure of books.

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