Acountng adjstment
This query is : Resolved
tejal zanzari
(Querist)
04 January 2014
If opening stock is understated in fin statemens.hw profit is overstated???
instead,it shud also b understatd...
CMA Ramesh Krishnan
(Expert)
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.
CA Galib Mirza
(Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST input credit on commercial property
- ETDS return q4 25-26
- Gift to nri relatives residing in usa
- Intimation under section 245
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
