closing stock
This query is : Resolved
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 ?
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.
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.
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
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Reprocessing of rectification order AY 2025-26
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Section 50-fixed asset-->building ceases to exist
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
