Closing stock
This query is : Resolved
08 May 2015
Closing stock is real account then why it is coming in trading account ????
27 May 2015
Closing stock is recorded in the books by passing the following entry:
Closing stock a/c Dr.
To Trading a/c
What you see in the trading account is the posting of the of this entry on the credit side of that account. The debit effect gets posted to the debit side of Closing stock account which is a real account or an asset. This account has a debit balance and is shown in the balance sheet.
Closing stock a/c Dr.
To Trading a/c
What you see in the trading account is the posting of the of this entry on the credit side of that account. The debit effect gets posted to the debit side of Closing stock account which is a real account or an asset. This account has a debit balance and is shown in the balance sheet.
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Form 121-contradictory opinions
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
