Practical Problem 01
| 1) From the following Balances of Jayashri Traders, you are required to prepare | |||||||
| Trading Account for the year ended 31/03/2019 | |||||||
| Particulars | Debit Amount | Credit Amount | |||||
| Opening Stock | 41,000 | ||||||
| Purchases | 59,000 | ||||||
| Purchases Return | 7,000 | ||||||
| Sales Return | 1,600 | ||||||
| Sales | 1,03,000 | ||||||
| Wages | 3,400 | ||||||
| Carriage Inward | 1,000 | ||||||
| royalty | 4,000 | ||||||
| Total | 1,10,000 | 1,10,000 | |||||
| Closing Stock = ₹ 40,000 | |||||||
Solution :
| Trading and Profit & Loss A/c for the year ended 31st March 2019 | |||||||||||
| Trading Acccount | |||||||||||
| Particulars | Amount | Amount | Particulars | Amount | Amount | ||||||
| To Opening Stock | 41,000 | By Sales | 1,03,000 | ||||||||
| To Purchase | 59,000 | Less : Returns | 1,600 | 1,01,400 | |||||||
| Less : Returns | -7,000 | 52,000 | |||||||||
| To Carriage Inward | 1,000 | ||||||||||
| To Royalty | 4,000 | By Closing Stock | 40,000 | ||||||||
| To Gross | |||||||||||
| 1,41,400 | 1,41,400 | ||||||||||