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Trial balance

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Working professional
34 Points Posted on 02 January 2019

is opening stock shown in trial balance?

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On 02 January 2019 at 13:21 Report
Replies (8)
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Accounts Executive
749 Points Posted on 02 January 2019

opening stock would appear on the debit side of the trial balance.this opening stock is the previous years closing stock.

 

2 Reply
On 02 January 2019 at 13:25
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Working professional
34 Points Posted on 02 January 2019
and closing stock?
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On 02 January 2019 at 13:28
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Accounts Executive
749 Points Posted on 02 January 2019
Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.
2 Reply
On 02 January 2019 at 13:46
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Team Lead
7558 Points Posted on 02 January 2019
dear how will your tb match if closing stock is not shown in the tb.
30 Reply
On 02 January 2019 at 14:21
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Consultant & Teacher(Whatsapp 8718057907
1306 Points Posted on 02 January 2019
Agreed with aman kumar
5 Reply
On 02 January 2019 at 16:32
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student
5205 Points Posted on 02 January 2019

AGREE WITH ABOVE

8 Reply
On 02 January 2019 at 17:26
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student
23 Points Posted on 05 January 2019
agree with above... and closing stock show in adjustment.
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On 05 January 2019 at 12:11
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Master in Accounts & high court Advocate
9615 Points Posted on 05 January 2019

On accounting year ending the closing stock will be calculated on the basis of physical stock on hand and incorporated as adjustment entry.

21 Reply
On 05 January 2019 at 14:42


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