Question

If closing stock appears in trial balance what will be the treatment in final accounts

Answer 1

So if closing stock account is to be shown in trial balance, we must have closing stock account in ledger. ... It will neither be shown on the credit side of Trading A/c nor it will be shown as a deduction from Purchase A/c in Trading A/c because it will amount to double recording of closing stock.

Answer 2

Answer:

what is closing stock?

• The unsold goods lying in the business at the end of the accounting period is called closing stock
• As per as-2 ( reviced) closing stock is evaluated at cost price or net realisable value whichever is lower

presentation in final accounts?

• In trading account- shown on credit side
• In balance sheet- shown on assert side under current assert