Acountng adjstment
This query is : Resolved
04 January 2014
If opening stock is understated in fin statemens.hw profit is overstated???
instead,it shud also b understatd...
05 January 2014
Opening stock is the debit item in the profit & loss account,if the opening stock understated means your profit will be more only.
05 January 2014
Dear tejal
Op stock is in trading account on debit side thus if we reduce our debit side profit is more
Op stock is in trading account on debit side thus if we reduce our debit side profit is more
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