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closing stock

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(Querist)
11 February 2009 may i know Why Closing Stock Not shown in Trial Balance? moreover i want to know is any ledger maintenance reqd to ascertain c.s ?
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Pankaj

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Pankaj (Expert)
15 February 2009 first entry of closing stock is

Closing Stock Dr
to trading acccount

this we do while preparing trading account. with this entry closing stock comes into the book. no further entry is passed thatswhy it is thereafter shown in balance sheet.

next year, it is transferred to debit side of trading account and thus closed. In that year, same cycle is repeated for that year's closing stock.

Refer AS2 regarding closing stock.
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