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Trading A/C

Accountancy

If adjusted purchase is given the no need to write closing balance in Trading A/C right??

Vijaya Lakshmi Pojula

CA Foundation

★ 2K+

13-Mar-24 11:00

Answers (4)

If the purchases given in TB, then the closing inventory is already deducted from purchases. And, in these type of scenario, the closing balance of inventory/ closing stock will appear in TB itself. Then you just have to post those amounts as they were in Trading a/c and the balance will be GP.

syed shakeer

CA Inter

★ 180

13-Mar-24 12:05

Closing stock if available in trial balance -show in balance sheet only. Any item of trial balance will appear once in the final accounts. Any item of adjustment will appear twice.

CA Suraj Lakhotia

Admin

13-Mar-24 13:45

CA Suraj Lakhotia Admin

Closing stock if available in trial balance -show in balance sheet only. Any item of trial balance will appear once in the final accounts. Any item of adjustment will appear twice.

Thank you sir

Thread Starter

Vijaya Lakshmi Pojula

CA Foundation

★ 2K+

13-Mar-24 14:58

Yes