closing balance in B/S
This query is : Resolved
A J Sankar
(Querist)
23 October 2008
Why the closing stock balance no shown in TB? If the same is shown in TB what is its effect?
23 October 2008
If u wanna show closing stock balance u can surely show it as mentioned below:
On Dr Side - Closing Stock ( Asset )
On Cr Side - Closing Stock ( Income )
On Dr Side - Closing Stock ( Asset )
On Cr Side - Closing Stock ( Income )
23 October 2008
Pass a journal entry
Closing stock a/c Dr Rs.....
To P&L a/c Rs.....
Closing stock a/c Dr Rs.....
To P&L a/c Rs.....
S.Srinivasaraghavan
(Expert)
23 October 2008
If the accounting is on the basis of stock receipt and issue you will note that the closing stock is there automatically in TB.
A J Sankar
(Querist)
23 October 2008
Thanks for your reply.
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