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Closing Stock of Gift Items in Balance Sheet

09 January 2022

Under which head in balance sheet will closing stock of gift items be placed (like writing pads, other promotional gift items like watches, pen holders, etc)

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6 Replies

Komal Barapatre (210 Points)
Replied 10 January 2022

Under closing stock,, make a separate ledger of gift items under closing stocks.

sabyasachi mukherjee (26057 Points)
Replied 10 January 2022

There is no such disclosure in balance asheet as per schedule vi .
A seperate notes on account need to be made.

Aniket Kumar (99 Points)
Replied 10 January 2022

Well, no disclosure is ok, but it needs to be under somewhere right?
like in fixed asset or current asset or indirect expenses

Meghraj Ojha (Accountant) (60 Points)
Replied 15 January 2022

closing stock mean closing stock. (PNL )

Aniket Kumar (99 Points)
Replied 15 January 2022

Doesn't balance sheet have closing stock?

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 18 May 2022

Periodically the closing stock is setoff against purchases. So it is not possible to classify it as distribution expenses

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