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    somveer9715378's Avatar
    somveer9715378 Posts: 2, Reputation: 1
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    #1

    Sep 4, 2008, 10:49 PM
    What are the entries for closing stock?
    Can somebody help me to answer this question?
    nabelle's Avatar
    nabelle Posts: 2, Reputation: 1
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    #2

    Apr 25, 2009, 09:55 PM
    If the stocks in terms of goods, then the entries are
    Debit stock
    Credit capital

    If in terms of money or cash,
    Debit cash or bank account
    Credit capital account

    - good luck:)
    ateefmuallim's Avatar
    ateefmuallim Posts: 6, Reputation: 1
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    #3

    Apr 26, 2009, 06:04 AM

    what is the equation for closing stock
    satyanarayanara's Avatar
    satyanarayanara Posts: 11, Reputation: 0
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    #4

    May 1, 2009, 03:43 AM

    Mr nabelle your answer is no way related to the question
    The true answer is
    Trading a/c dr
    To closing stock a/c
    The inventory will be always on debit side it is the fundamental rule .To close it we have to make a reverse entry.
    satyanarayanara's Avatar
    satyanarayanara Posts: 11, Reputation: 0
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    #5

    May 1, 2009, 03:49 AM

    The equation for closing stock is
    Opening stock+(purchases-closing stock)-slaes
    Or
    (Opening stock+purchases)-(sales+closing stock)
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