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Trial balance closing stock
Accountancy
Sir could please clarify the concept of closing reflected in tb and outside tb. Video Details ------------- Accounting - CA Foundation (New) Trial Balance #7. Illustration - 2
Answers (2)
Normally we credit closing stock in trading account i.e indirectly reduced from purchasse. Closing stock in trial balance means, the following entry is already passed Closing Stock A/c Dr. To Purchases A/c or To Trading A/c So we will show only once in balance sheet.
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