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 |