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Closing stock

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(Querist)
01 May 2016 Why closing stock is shown in credit side of Trading Account even it is asset but not an Income
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
01 May 2016 All the purchases are shown in debit side. Some purchases still in stock. To reduce the purchases not sold kept in stock, closing stock is shown in credit side.
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Rupesh Jain

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Rupesh Jain (Expert)
02 May 2016 closing stock is diff of op. stock+ purchase - sales
credit show as bal. of the stock in books.




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