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 Stock41,000 
Purchases 59,000 
Purchases Return 7,000
Sales Return 1,600 
Sales  1,03,000
Wages 3,400 
Carriage Inward1,000 
royalty4,000 
Total 1,10,0001,10,000
Closing Stock = ₹ 40,000

 

Solution : 

                                 Trading and Profit & Loss A/c for the year ended 31st March 2019
                                                                                                Trading Acccount 
Particulars AmountAmount Particulars AmountAmount 
To Opening Stock  41,000By Sales 1,03,000 
To Purchase59,000 Less : Returns 1,6001,01,400
Less : Returns -7,00052,000   
To Carriage Inward  1,000   
To Royalty  4,000By Closing Stock  40,000
To Gross      
      
  1,41,400  1,41,400