If ‘Adjusted Purchases’ and ‘Closing Stock’ are given in the Trial Balance, will you transfer ‘Closing Stock’ to the trading account?

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No, Closing will not be transferred to Trading Account because it already stands credited to Trading Account as adjusted purchases mean Opening Stock + Purchases – Closing Stock.

The amount in the ‘Adjusted Purchases Account’ is shown on the debit side of the Trading Account and the amount of closing stock on the assets side of the Balance Sheet.

kratos · Answer 1 · 2020-08-18T21:13:35+0000

No, Closing will not be transferred to Trading Account because it already stands credited to Trading Account as adjusted purchases mean Opening Stock + Purchases – Closing Stock.

The amount in the ‘Adjusted Purchases Account’ is shown on the debit side of the Trading Account and the amount of closing stock on the assets side of the Balance Sheet.

If ‘Adjusted Purchases’ and ‘Closing Stock’ are given in the Trial Balance, will you transfer ‘Closing Stock’ to the trading account?

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If ‘Adjusted Purchases’ and ‘Closing Stock’ are given in the Trial Balance, will you transfer ‘Closing Stock’ to the trading account?

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1 Answer

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