Closing Stock
This query is : Resolved
21 September 2009
Can anyone please explain, why the closing stock appears outside the trial balance????
21 September 2009
ther is no need to have it outside. by follwing entry it may inside TB
Stock account Dr
Purchase account Cr
Or
all your purchse of material will be first debited to Stock account & cr to vendor account
consumption of material will be booked to stock account
RM consumption account Dr
Stock account Cr
So balance in stock account is Closing stock.
Stock account Dr
Purchase account Cr
Or
all your purchse of material will be first debited to Stock account & cr to vendor account
consumption of material will be booked to stock account
RM consumption account Dr
Stock account Cr
So balance in stock account is Closing stock.
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