Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Why the reason closing stock does not appear in trial balance?

user-image
Question added by anwar basha
Date Posted: 2016/11/23
Mohammed Alyazji
by Mohammed Alyazji , E-COMMERCE PLATFORM DATA ENTRY , RADIANT BUILDING MATERIALS TRADING LLC

Closing stock is the leftover balance out of goods which were purchased during an accounting period but are unsold till now. 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.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.