Why we write closing stock in profit and loss a/c and it is also shown in balance sheet
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HEY.....
NOT RECORD IN P& L AC
IT IS RECORFED IN → TRADING ACCOUNT
↓↓↓↓↓↓
PRAVIOUS YEAR STOCK IN TRADE , WHICH IS NOT EXPENSE IT IS WRITTEN IN TRADING ACCOUNT BECAUSE IT IS OPENING BALANCE OF STOCK.
BALANCE SHEET
BECAUSE CLOSING STOCK MEANS NOT EXPENSED STOCK IS A ASSET OF THE BUSINESS....
MAYBE IT HELPS YOU...
NOT RECORD IN P& L AC
IT IS RECORFED IN → TRADING ACCOUNT
↓↓↓↓↓↓
PRAVIOUS YEAR STOCK IN TRADE , WHICH IS NOT EXPENSE IT IS WRITTEN IN TRADING ACCOUNT BECAUSE IT IS OPENING BALANCE OF STOCK.
BALANCE SHEET
BECAUSE CLOSING STOCK MEANS NOT EXPENSED STOCK IS A ASSET OF THE BUSINESS....
MAYBE IT HELPS YOU...
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