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closing stock

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krissun (Querist)
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11 February 2009 Why Closing Stock Not shown in Trial Balance?

NITIN (Expert)
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11 February 2009 Since closing stock affects or entered in both p and l and b/s therefore it is not entered in trial balance. Apart from c.s those items which are require to be entered twice in financial statement is not entered in TB

krissun (Querist)
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11 February 2009 thanks but can u pls explain in detail ?

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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12 February 2009 The amount which appear in the trial balance are the closing balances of the a/c's.
Since there is no recording entry of closing stock passed in the a/c's it doesn't appear.
it can also appear if we pass an journal entry before closure of books.

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