Why closing stock is always credit in trading account and opening stock is debited in trading account?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
Closing stock is an asset in a balance sheet but why we write closing stock in ...
Posted by:
asada ali
18-December-2016

Credit Trading Final Accounts

Question added by Prabhleen Kaur Bagga
Date Posted: 2018/01/26

Upvote (0) Views (1) Followers (0) Answers (0) Report Question

Be the First to Answer
Register now or log in to answer.

0 Answers

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

If closing stock appear on the trial balance it must have been ____
Top Answer: <p> </p> <p style="text-align:right;"><strong>c) Deducted from the purc ... See More

Answers (15)
Sales + Closing stock – Purchases – Gross profit = ?
Top Answer: <p><strong>D</strong></p> <p> Gross profit = Sales - ( <strong>D< ... See More

Answers (31)
How does Treasury Stock differ from Trading Stock?
Top Answer: Treasury stock results from the buyback of own shares of the company. Trading stock on the other hand is ... See More

Answers (4)
Exe Ltd sells goods on credit to Wy Ltd for £3000. Which of the following accounting entries correctly records this transaction?
Top Answer: <p>b. Debit Wy Ltd, credit sales £3000</p> <p> </p> <p>When you sell goods ... See More

Answers (12)

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