Closing stock
This query is : Resolved
G.Ravi Sankar Sagar
(Querist)
01 May 2016
Why closing stock is shown in credit side of Trading Account even it is asset but not an Income
CA R SEETHARAMAN
(Expert)
01 May 2016
All the purchases are shown in debit side. Some purchases still in stock. To reduce the purchases not sold kept in stock, closing stock is shown in credit side.
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Rupesh Jain
(Expert)
02 May 2016
closing stock is diff of op. stock+ purchase - sales
credit show as bal. of the stock in books.
credit show as bal. of the stock in books.
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