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Closing Stock

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Chirag Chordia

Chirag Chordia (Querist)
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15 June 2009 why we do not record closing stock in the Trial Balance???

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)
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15 June 2009 Every item appearing in the Trial Balance has only one posting effect in the Profit & Loss Account or in the Balance sheet. But incase of closing stock the effect is needed to be given in both i.e. Profit &n Loss account and Balance sheet. That's the reason because of which closing stock is not stated in Trial Balance.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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15 June 2009 The items appearing are those for journal entry in the books of prime entry has been recorded.

No entry is passed usually for the closing stock.

If you want, you can show it in the trial balance.

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