2
Question
From the following information, prepare the Trading Account for the year ended 31st March, 2017:
Adjusted Purchases ₹ 15,00,000; Sales ₹ 21,40,000; Returns Inwards ₹ 40,000; Freight and Packing ₹ 15,000; Packing Expenses on Sales ₹ 20,000; Depreciation ₹ 36,000; Factory Expenses ₹ 60,000; Closing Stock ₹ 1,20,000.
Adjusted Purchases ₹ 15,00,000; Sales ₹ 21,40,000; Returns Inwards ₹ 40,000; Freight and Packing ₹ 15,000; Packing Expenses on Sales ₹ 20,000; Depreciation ₹ 36,000; Factory Expenses ₹ 60,000; Closing Stock ₹ 1,20,000.
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Solution
Trading Account
for the year ended March 31, 2017
Dr.
Cr.
Particulars
Amount (Rs)
Particulars
Amount (Rs)
Adjusted Purchases
15,00,000
Sales
21,40,000
Freight & Packing
15,000
Less: Return Inwards
40,000
21,00,000
Factory Expenses
60,000
Gross Profit (Balancing Figure)
5,25,000
21,00,000
21,00,000
Note: Closing Stock will not be shown on the Credit side of Trading Account since it has already been adjusted while calculating adjusted purchases.
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
|
Trading Account
for the year ended March 31, 2017
|
||||||
| Dr. | Cr. | |||||
| Particulars | Amount (Rs) | Particulars | Amount (Rs) | |||
| Adjusted Purchases | 15,00,000 | Sales | 21,40,000 | |||
| Freight & Packing | 15,000 |
Less: Return Inwards
|
40,000 | 21,00,000 | ||
| Factory Expenses | 60,000 | |||||
| Gross Profit (Balancing Figure) | 5,25,000 | |||||
| 21,00,000 | 21,00,000 | |||||
Note: Closing Stock will not be shown on the Credit side of Trading Account since it has already been adjusted while calculating adjusted purchases.
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Suggest Corrections
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