stock and closing stock
This query is : Resolved
12 May 2011
gud mrng dear experts.why closing stock ac wil nt come in trail balance.is there any ac called oPening stock and closing stock ac in reality.if it is there,then what is d entry for closing stock and its corrosponding entry in closing stock ac
05 June 2011
Actually CL stock comes in financial through adjustment entry. Trading account is actually a ledger if u read carefully this trading account ledger you find following entry of Closing Stock.
Closing Stock ( Real A/c ) DR
To Trading A/c ( Nominal A/c ).
If you pass this then no need to show this again in PL because it will be a part of PL A/c
Closing Stock ( Real A/c ) DR
To Trading A/c ( Nominal A/c ).
If you pass this then no need to show this again in PL because it will be a part of PL A/c
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