Trading Account for the year ended March 31, 2018 |
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Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Purchase (Adjusted) |
5,50,000 |
Sales |
6,25,000 |
||
Freight and Carriage Inwards |
3,000 |
||||
Wages |
7,000 |
|
|
||
Gross Profit (Balancing Figure) |
65,000 |
|
|
||
|
6,25,000 |
|
6,25,000 |
||
|
|
|
|
||
Notes:
1. Freight and Carriage Outwards are indirect expenses, therefore it is not recorded in the Trading Account.
2. Closing Stock (i.e. Rs 50,000) is not recorded in the Trading Account as it is already adjusted in the amount of Adjusted Purchases.