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Why Closing stock not calculate under trial balance?
Most Upvoted Answer
Why Closing stock not calculate under trial balance?
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.
Community Answer
Why Closing stock not calculate under trial balance?
If purchase account and opening stock are present in the trial balance,
it means that the above entries have not been passed.
Therefore, Cllosing stock cannot appear in the trial balance because there is no such account. ... Therefore, purchases and opening stock cannot appear in the trial balance.
it means that the above entries have not been passed.
Therefore, Cllosing stock cannot appear in the trial balance because there is no such account. ... Therefore, purchases and opening stock cannot appear in the trial balance.
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Why Closing stock not calculate under trial balance?
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Why Closing stock not calculate under trial balance? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Why Closing stock not calculate under trial balance? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why Closing stock not calculate under trial balance?.
Why Closing stock not calculate under trial balance? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Why Closing stock not calculate under trial balance? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why Closing stock not calculate under trial balance?.
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