Solve
Guides
You visited us 0 times! Enjoying our articles? Unlock Full Access!
Question
A Trading account B Profit and Loss account D Profit and loss appropriation
Open in App
Solution
Verified by Toppr
If closing stockappeared in Trial balance it means the purchases has been reduced to the extentof stock amount at the end of the period. The accounting treatment will beclosing stock to be shown in Balance sheet under current assets and it shouldnot be credited to Trading a/c.
Was this answer helpful?
16
Similar Questions
Q
1
If closing stock appears in the trial balance then it appears in _______.
View Solution
Q
2
If closing stock appears in the trial balance, it should be __________.
View Solution
Q
3
Closing stock A/c appearing in the trial balance will __________.
View Solution
Q
4
All expense and _______accounts appearing in the trial balance are transferred to the trading and profit and loss account.
View Solution
Q
5
If closing stock does appears in the trial balance and also given as additional information, it should be ___________.
View Solution