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Question
Closing stock appearing in the Trial Balance is shown in____________.
Closing stock appearing in the Trial Balance is shown in____________.
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Solution
The correct option is B Balance Sheet only
If closing stock
appeared in Trial balance it means the purchases has been reduced to the extent
of stock amount at the end of the period. The accounting treatment will be
closing stock to be shown in Balance sheet under current assets and it should
not be credited to Trading a/c.
If closing stock appeared in Trial balance it means the purchases has been reduced to the extent of stock amount at the end of the period.
The accounting treatment will be
closing stock to be shown in Balance sheet under current assets and it should
not be credited to Trading a/c.
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