G.k of accounting
Harsh Jethwa (58 Points)
12 January 2019
what is the reason for not taking closing stock in trail balance
4 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 12 January 2019
Closing stock account is appearing in Trial balance because Closing stock account is open or prepare only after trial balance .
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 12 January 2019
Want correct above "not appearing " instead of "appearing "
Vinod Babu
(24191 Points)
Replied 13 January 2019
Clising stock is usually shown as an additional information or an adjustment outside the trial balance.
Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.
Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.
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