How to enter Opening stock with any previous record
This query is : Resolved
Abbas Ali Bohra
(Querist)
08 February 2024
Their is a company who has take over another without any settlement of accounts, Now we have stock of that another company of value 1.1 million rs and no other details we have. Now I have to shown those goods in my account books because we use in daily sales transaction. How can I enter stocks in my books of accounts because I have only stock details and no other details I have.
If I directly put stocks in opening then it will reflect the difference in Trial Balance and Balance Sheet.
If I directly put stocks in opening then it will reflect the difference in Trial Balance and Balance Sheet.
CA R SEETHARAMAN
(Expert)
08 February 2024
Debit purchase account for value of stock taken over and credit the company where stock is taken.
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