Closing stock
This query is : Resolved
09 November 2015
Why closing stock when inside Trial balance shown at one place only? But when it is outside the Trial balance it is shown at two places. I know it is due to double entry effect but I want to know it in depth and the logic behind it.
09 November 2015
Dear Arjun ,
When Closing stock shown in TB it means it has booked in record and it's impact has been automatically gone both side.
while when stock figure shown outside that means this has to book and its impact has to take in both places.
When Closing stock shown in TB it means it has booked in record and it's impact has been automatically gone both side.
while when stock figure shown outside that means this has to book and its impact has to take in both places.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
