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-   -   What are the entries for closing stock? (https://www.askmehelpdesk.com/showthread.php?t=256808)

  • Sep 4, 2008, 10:49 PM
    somveer9715378
    What are the entries for closing stock?
    Can somebody help me to answer this question?
  • Apr 25, 2009, 09:55 PM
    nabelle
    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:)
  • Apr 26, 2009, 06:04 AM
    ateefmuallim

    what is the equation for closing stock
  • May 1, 2009, 03:43 AM
    satyanarayanara

    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.
  • May 1, 2009, 03:49 AM
    satyanarayanara

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

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