Deepali (CA Final Student) (105 Points)
22 August 2013if closing stock appears in the trial balance, is it wrong? because it always is found at the end of the year and is part of adjustments ?
what does it mean?
also, if closing stock is shown in TB, then purchases will not be shown in TB?
please explain.
Parihar Gopal
(Corporate Taxation )
(392 Points)
Replied 22 August 2013
C.A. LINESH PATIL
(CA)
(910 Points)
Replied 22 August 2013
Closing stock is always shown in trial balance bcoz it is part of Purchase & opening n both are shown in trial balance.therefore it should not be shown seprately in trial balance otherwise T.B.would be having closing stock twice.but if COGS is shown in T.B. then closing stock need to be shown seprately in T.B.
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