Stock reserve in relation to closing stock appears
Asked by admin @ in Math viewed by 304 People
Stock reserve in relation to closing stock appears
Asked by admin @ in Math viewed by 304 People
Stock reserve in relation to closing stock appears
Answered by admin @
Answer:
The opening stock appears on the debit side of trading account and to reduce it to its cost the stock reserve is transferred to the credit side. ... As the closing stock is on the credit side of trading account and above cost we reduce the profit element by debiting the General P&L a/c.
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