trail balnce

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2010 why dose closing balance not cite on trail balance, what are the reason, why dose it is cite on balance sheet assets side since it is Cr. balance

S. Karthi

S. Karthi (Expert)
Follow

18 November 2010 Which closing balance? actually all the closing balance will affect in trial balance. if not affect in your trail balance it will not tally. so, please make sure your trail balance tallied or not?

Querist : Anonymous

Querist : Anonymous (Querist)

18 November 2010 sorry I mean to say closing stock, this is not mention into Trail balance , what are the reason, and further since it is Cr. item then why dose it is sent to Assest side of B\sheet. kindly state in breif

Upgrade to CAclubindia Pro. Subscribe Now!

S. Karthi

S. Karthi (Expert)
Follow

18 November 2010 What kind of software are you using?

Basically Closing stock should be shows on Current assets side either b/s or t/b.

but, some software people may did like as you said. bcoz, they want to develop stock analysis, etc.,. so, its depend upon software program. if you want to clarify you just check with current asset groups inside.