Narendra Agrawal (M.Com) (46 Points)
26 March 2014plese help me for closing and opening stock entry
Raw Material Opening stock 123 mt value is 100000
Finished Goods Openiing stock 234 mt value is 250000
Purchase Raw Material 200 mt value 150000
material sales 150 mt value is 200000
please help me for stock entry in trading a c and balance sheet
Harendra Kumar
(Tax Advisor )
(1326 Points)
Replied 26 March 2014
Sir,
Plz make the 1st Entry of Closing Stock and it’s the same closing stock at the ending period, if you adding the some materials in opening stock same is the closing stock ( Opening + add RM ).
For e.g
i.e. if you have opening stock Rs. 100.00 and you purchase is NIL then you closing stock is Rs. 100.00, if you some purchase Rs. 50.00, then you closing stock Rs. 150.00.
Further if you could not understand this view plz forward the same and it is requested you that try self-practice for making the Accounting Entry (Journal & Closing Entry) .
If you have any query in this regard plz forward the same.
CAclubindia
