stock and closing stock
This query is : Resolved
PRADEEP REDDY
(Querist)
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
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
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Import of Capital Machine
- Gift to nri relatives resides in usa
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
