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Question

From the following details calculate the missing figure.
Purchases = ______
Manufacturing expenses = Rs. 40,000
Direct expenses = Rs. 20,000
Selling and distribution expenses = Rs. 23,000
Administrative expenses = Rs. 12,000
Sales Rs. 2,80,000
GP 25% on sales

A
Rs.1,35,000
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B
Rs. 1,50,000
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C
Rs. 1,45,000
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D
Rs. 1,65,000
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Solution

The correct option is D Rs. 1,50,000
Solution to the given situation is as under:

Trading Account
Particulars Amount Particulars Amount
To Purchases (balancing) 150000 By Sales 280000
To Manufacturing Expenses 40000
To Direct Expenses 20000
To Gross Profit 70000
(25% on sales)
------------------ ---------------
280000 280000
-------------------- --------------

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