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Effect of overstatement of opening stock

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(Querist)
12 February 2016 Hi, Please advice on the below case: What should be the effects in the current year if the closing stock of previous year which was recorded at Rs. 30,000, was overstated by Rs. 10,000.? What should be the JE in the CY?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
12 February 2016 Basically profit was overstated by Rs.10000 so,debit profit/loss a/c credit stock a/c in current year

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