Question

closing stock is show in ?

A.trial balance
B.Balance sheet
C.trial balance and balance sheet
d.All of these ​

Answer 1

Answer:

B. Balance Sheet

Explanation:

Closing stock generally does not appear in the trial balance because it is the leftover of the purchases which is already included in the trial balance. An exception is when closing stock is adjusted with the purchase account balance.

Closing stock appearing in the trial balance is shown on the asset side of balance sheet to show the status of assets with the firm.