Accountancy, asked by nik20202, 9 months ago

what is stock considered in trial balance if it doesn't have a date ? is it opening stock

Answers

Answered by Rossily

When no date specified in question treat as opening stock and show in trading account and if stock shown in additional information without date treat as closing stock.

Answered by Anonymous

Answer:

. Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.

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