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    Aliana's Avatar
    Aliana Posts: 1, Reputation: 1
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    #1

    Mar 23, 2009, 12:14 AM
    Journal entry for closing stock
    What is the journal entry for closing stock?
    Imran2008in's Avatar
    Imran2008in Posts: 5, Reputation: 1
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    #2

    Mar 25, 2009, 04:26 AM

    In my opinion there is no general entry for closing stock.
    Closing stock recorded in trading account's credit side,and in balance sheet it will appear as current asset.ok
    Buiboi's Avatar
    Buiboi Posts: 6, Reputation: 1
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    #3

    Mar 26, 2009, 06:40 PM

    o0o0 I needed to find this out as well...
    I'm pretty sure that closing stock is recorded in the general journal, the general journal contains everything.
    shah.gouher's Avatar
    shah.gouher Posts: 1, Reputation: 1
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    #4

    Mar 7, 2011, 07:33 AM
    Closing stock a/c... Dr ***
    To Trading a/c **** (or)
    To Goods consumed account **** (or)
    To purchase a/c ***

    Since the is the journal entry for closing stock means for new financial year.The stock has been purchased last year and was stored.This means The stock is already entered in trading account and now the stock is for
    New year and it is in for project means Stock a/c should be debited, (real account) debit all incomes
    And trading account to be credited as it is going out.Thanx
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