I'm currently doing the drafting of a manufacturing company. Because i was unable to asses their stock calculations...i removed the purchase and closing and continued with the drafting. My profit was calculated correctly. However, my balance sheet fails to tally. Is this because i've only considered the opening stock and my cash got affected when i ignored purchase and closing stock?
1 Replies
ANTONY EDGAR
(CA in Practice)
(89 Points)
Replied 18 September 2013
When you remove the purchase, the trial balance will not tally. So how can the balance sheet tally.
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