Dear Chartered Accountants and Knowledgeable persons....
Opening stock VS closing stock
Some people's told to me the closing stock will be below of your opening stock ... everybody telling their own point including some Auidtors and accountants
Generally as per Accounting rules ,the closing stock how can I judge???
my humble request plse everybody give me a clarity information
Menu
TRADING ACCOUNT DOUBT please everyone teach and clarify me...
Replies (4)
Sales - purchase - opening stock gives closing stock
Now I can explain:
Opening Stock : 14000
Purchase: 56000
GP (10% of sales): 8400
Total 78400
Sales : 62000
Then Closing stock will be 16400 less than opening stock.
It's a simple concept if you have more sale then you have less stock and if you have less sale then more stock.
Opening Stock : 14000
Purchase: 56000
GP (10% of sales): 8400
Total 78400
Sales : 62000
Then Closing stock will be 16400 less than opening stock.
It's a simple concept if you have more sale then you have less stock and if you have less sale then more stock.
@ thank you Rashmi mam....plse always guide me
Welcome 🤗🤗🤗
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
