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Debit : Closing Stock a/c
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∙ 12y ago
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Journal entry for adjusting closing stock with purchases?
what is entry of closing stock in p & L a/c & balance sheet
What is journal entry of closing stock?
it s transfer to profit and loss account.
What is the Accounting Journal Entry for Excess Inventory Reserve?
you take it in the closing stock .. it means that you have already added with in closing stock .. therefore you are closing stock reduce ... so excess stock entry will be made directly for the purpose of balance sheet. you are give this effect on it stock sheet only..
What is the journal entry of the opening stock?
opening stock is the stock at the end of previous year which is being carried forward to next year. so it is treated as opening balance (asset) n the following journal entry will b passed opening stock Dr. to liabilities *if liabilities are not there then capital is to be credited
What is the equation of closing stock?
closing stock calculation formula? closing stock calculation formula? closing stock calculation formula? yes how can i do the closing stock calculation?
What is the meaning of closing stock?
opening stock +purchase-sales =closing stock
How you get closing stock in balance sheet?
=Opening stock+receipt - issue = closing stock
What is the Journal entry for closing stock?
Closing Stock (Assets, Balance Sheet) A/C Dr. ----- Trading or P/L A/C Cr. (Expenses, Trading or P/L) A/C ----- The Dr. entry of the closing stock will remain as assets in inventory and will be carried forward to next year where as Cr. entry will be deducted [opening stock+purchase-closing stock (trading)] as like expenses in Trading or P/L A/c and not will be carried forward to the next year. ============================== Stock only needs to be one account (not both Opening and Closing accounts). Post it's balance to P&L (Cost Of Sales) as "Opening Stock". Journalise the new Stock figure as a credit "Closing Stock" to P&L (Cost Of Sales) and debit the Stock account. Calculate Cost Of Sales as above.
Is closing stock appear in the trail balance?
Yes it should. It is possible that the closing stock would be shown as the opening stock with a change in stock value separately which would give the closing stock.
How do you get the closing stock in trading profit and loss when not given?
How do I find the opening stock when given the closing stock
What is the closing price of a stock?
The closing price of a stock is how much a stock is worth after a specific day of trading.
Is it good to have a high closing price or a low closing price?
If you own the stock, it is good to have a high closing price. If you are short the stock or trying to buy the stock, then a low closing price.
