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Trial balance
why opening stock does not come in trial balance when the cost of good sold is given???
plz explain.
Replies (16)
Because COGS=op.stock+purchases-cl.stock and therefore it gets combined in it. And does not come in trial bal.
Agree with Abhishek
Dear,
opening stck suggest previous year cls stk, hence as per genrl accepted acc principl
for sale of goods we use fifo method so open stk goods has been alrady sold or say consumed
hence Cost of goods sold = Opn +purch- cls stk , its shows that opn stk alrady consumed/sold ,while deducting of cls stk suggst its still not used for sale. So, COGS givn in t.b means all these 3 things came, therefore clos stk now will show in balance sheet asset side.its shows 2 effect that is one alrady in COGS & Asset side.hope this will help u.
closing stock are shown in trial balance when given adjusting purchase
Thanku so much hojefa for this explanation..really helped alot.
agr adjusting purchase given ho to closing stock ka kya treatment hoga
 Originally posted by : abhishek |
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Because COGS=op.stock+purchases-cl.stock and therefore it gets combined in it. And does not come in trial bal. |  |
thx so much friend
in tally inputs vat & output vat are shown in which head
Show under duties and taxes
Dear sir
You show input and output vat under duties & taxes.
Dear sir
You show under duties and taxes
Duties & Taxes under current liabilities
In Tally, input & output VAT are shown under group of 'Duties & Taxes'. From this group, select 'VAT' as type of duty and select 'Duty on sales' as basis of calculation.
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