Dear Chartered Accountants and Knowledgeable persons....
Opening stock VS closing stock
Some people's told to me the closing stock will be below of your opening stock ... everybody telling their own point including some Auidtors and accountants
Generally as per Accounting rules ,the closing stock how can I judge???
my humble request plse everybody give me a clarity information
Menu
TRADING ACCOUNT DOUBT please everyone teach and clarify me...
Replies (4)
Quick Summary
Sales - purchase - opening stock gives closing stock
Now I can explain:
Opening Stock : 14000
Purchase: 56000
GP (10% of sales): 8400
Total 78400
Sales : 62000
Then Closing stock will be 16400 less than opening stock.
It's a simple concept if you have more sale then you have less stock and if you have less sale then more stock.
Opening Stock : 14000
Purchase: 56000
GP (10% of sales): 8400
Total 78400
Sales : 62000
Then Closing stock will be 16400 less than opening stock.
It's a simple concept if you have more sale then you have less stock and if you have less sale then more stock.
@ thank you Rashmi mam....plse always guide me
Welcome 🤗🤗🤗
Recent Topics :
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
Related Topics :
CAclubindia
