Question

Journal entry for stock of goods RS.40800

Answer 1

purchase a|c dr. 4o800
to stock 40800
(being purchase goods in cash )

Answer 2

1. Closing Stock A/c..........Dr.           40800

To, Trading A/c (Note 1)                                                     40800

(being stock of goods Rs. 40800)

Note 1: Trading A/c credit because at the end of year all the closing balance of stock transfer in Trading account.