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Closing stock
Stock of RS.10 lakhs was mistakenly omitted from Financial statement of 2012, this was came to knowledge in 2014. How can we rectify in 2012 balance sheet and other balance sheet after 2012?
Replies (1)
Auditor approval is needed for incorporating forgotten stock into balance sheet. It is an adjustment. so appears in both the accounts stock a/c debit and trading account credit.
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