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What is Final Accounts Adjustment Entries about?

This document provides guidance on how to treat various adjustment journal entries in the trading and profit & loss account and balance sheet. It explains that closing stock is shown as a current asset on the credit side of the trading account. Depreciation on fixed assets is deducted from individual fixed assets and shown on the debit side of the profit & loss account. Outstanding expenses are added to the relevant expense account on the debit side of the trading/profit & loss account and shown as a curren

Author

khanpur88822

Language

EN