Closing stock is credited in the:

Balance sheet

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Profit & Loss account

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Trading account

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None of the above

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Solution

The correct option is C
Trading account

Closing stock is credited in the Trading account.

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Similar questions

Q. Closing stock is credited in the .

Q. Which is the accounting concept that required the practice of crediting closing stock to the trading account?

Calculate closing stock from the following details opening stock Rs. 20,000; cash sales Rs. 60,000; credit sales Rs. 40,000; purchases Rs. 70,000. Rate of gross profit on cost $33 \frac{1}{3} %$ .

Q. Consider the following statements.
A credit purchase during the accounting year which was not recorded in the books of account but included in the closing stock is to be.
I. Added to the credit purchases account
II. Added to the creditors account
III. Subtracted from the closing stock
IV. Added to the opening stock
Which of the statements given is/are correct?

Q. Stock adjustment account is debited with _________ and credited with __________.

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Closing stock is credited in the:

The correct option is C Trading account Closing stock is credited in the Trading account.

The correct option is C
Trading account

Closing stock is credited in the Trading account.