Trial Balance
This query is : Resolved
18 May 2011
hi,
plz answer my quaries regarding trial balance
(1)why we dont take general reserve etc in trial balance?
(2) why only opening stock is taken in trial balance and not closing stock?
(3)if bonus shares are issued by the company then what is the ststus of it in trial balance.
plz answer my quaries regarding trial balance
(1)why we dont take general reserve etc in trial balance?
(2) why only opening stock is taken in trial balance and not closing stock?
(3)if bonus shares are issued by the company then what is the ststus of it in trial balance.
CMA Ramesh Krishnan
(Expert)
22 May 2011
1. General reserve is form part of trail balance only(previous year balances)
2.Closing stock value already added in Purchase cost included on Trail balance, so closing stock not forming part of trial balance, Opening stock is adjusted and arrived from opening balance sheet so it will be form part of TB
3. need to be shown under share capital only
1. General reserve is form part of trail balance only(previous year balances)
2.Closing stock value already added in Purchase cost included on Trail balance, so closing stock not forming part of trial balance, Opening stock is adjusted and arrived from opening balance sheet so it will be form part of TB
3. need to be shown under share capital only
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