Very useful exercise explained by Prof. Providing lot of insights especially incase of Amar ltd. Hardly he is aware that the problem case excelsheet is not shared with online students. This could be a ascertained as Prof scrolled through entries expecting ppl referring sheet shared, whereas online student struggle to make (assemble) the scroll transactions to prepare same records, so that they can do this problem solving exercise.
Because if closing stock is given in adjustment then we need to record in two areas i e,, one is in trading a/c, secondly in asset side of balance sheet , because of doing it we make adjustment...right ,so now you get my point.
Since Total Sales comprises of Opening Stock + Purchased Goods and as we must have paid for the Opening Stock in the last period. Therefore, Opening Stock is treated as expenses along with purchases.
Very useful exercise explained by Prof. Providing lot of insights especially incase of Amar ltd.
Hardly he is aware that the problem case excelsheet is not shared with online students. This could be a ascertained as Prof scrolled through entries expecting ppl referring sheet shared, whereas online student struggle to make (assemble) the scroll transactions to prepare same records, so that they can do this problem solving exercise.
🤔🙄
😂😂😂😂
Thank me later, boy
@@somratdutta what??
Why has the closing stock not been included in the current assets section in the Balance sheet?
Can someone please answer this question? Even I have the same query.
Because if closing stock is given in adjustment then we need to record in two areas i e,, one is in trading a/c, secondly in asset side of balance sheet , because of doing it we make adjustment...right ,so now you get my point.
@@vennelanelloru3056 so do you mean that closing stock will be considered as current asset in the balance sheet as well ?
@@nikhilbhosale8279 yes
@@vennelanelloru3056 sir ne credit debit galat sides pe likha hain kya ?
Why is Closing Stock not included in the balance sheet?
Thanks and great Sir....
how is closing stock income item and opening stock expense item?
Since Total Sales comprises of Opening Stock + Purchased Goods and as we must have paid for the Opening Stock in the last period. Therefore, Opening Stock is treated as expenses along with purchases.
Can somebody share this Excel file?