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    danerjnbaptiste's Avatar
    danerjnbaptiste Posts: 27, Reputation: 1
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    #1

    Nov 11, 2009, 08:08 PM
    Journal entry
    How do u journalize an entry for closing stock. Eg closing stock being 400 an year end dec.31.2010
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Nov 12, 2009, 08:47 PM

    YES, you do.

    DEBIT Closing Stock (b/s) $400
    CREDIT Closing Stock (p&l) $400
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