Prepare a Trading Account from the following particulars for the year ended 31st March 2017:-

Particulars (₹) Particulars (₹)

Opening Stock 2,50,000 Purchases Returns 22,000

Purchases 7,00,000 Sales Return 36,000

Sales 18,00,000 Gas, Fuel and Power 75,000

Wages 2,06,000 Dock Charges 8,000

Carriage Inward 34,000 Factory Lighting 96,000

Carriage Outward 20,000 Office Lighting 5,000

Manufacturing Expenses 2,48,000

Closing Stock is valued at ₹ 6,00,000.

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Solution

Trading Account
for the year ended March 31,2017

Dr. Cr.

Particulars Amount (Rs) Particulars Amount (Rs)

Opening Stock 2,50,000 Sales 18,00,000

Purchases 7,00,000
Less: Sales Returns
36,000 17,64,000

Less: Purchases Returns
22,000 6,78,000 Closing Stock 6,00,000

Carriage Inward 34,000

Wages 2,06,000

Custom Duty 15,000

Gas, Fuel & Power 60,000

Dock Charges 8,000

Manufacturing Expenses 2,48,000

Factory Lighting 96,000

Gross Profit (Balancing Figure) 7,69,000

23,64,000 23,64,000

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Similar questions

Q. From the following information prepare Trading Account for the year ended 31st March, 2018:

	₹		₹
Stock on 1st April, 2017	40,000	Returns Outward	80,000
Purchases	4,00,000	Wages and Salaries	50,000
Sales	3,80,000	Returns Inward	20,000
Carriage Inwards	20,000	Stock on 31st March, 2018	1,30,000

Net Realisable Value (Market Value) of stock as on 31st March, 2018 was ₹ 1,20,000.

The following is the Trial Balance of Mr. Deepak as on March 31, 2017. You are required to prepare trading account, profit and loss account and a balance sheet as on date:

Account title	Debit Amount Rs	Account title	Credit Amount Rs
Drawings	36,000	Capital	2,50,000
Insurance	3,000	Bills payable	3,600
General expenses	29,000	Creditors	50,000
Rent and taxes	14,400	Discount received	10,400
Lighting (factory)	2,800	Purchases return	8,000
Travelling expenses	7,400	Sales	4,40,000
Cash in hand	12,600
Bills receivable	5,000
Sundry debtors	1,04,000
Furniture	16,000
Plant and Machinery	1,80,000
Opening stock	40,000
Purchases	1,60,000
Sales return	6,000
Carriage inwards	7,200
Carriage outwards	1,600
Wages	84,000
Salaries	53,000

Closing stock Rs 35,000.

Following balances are extracted from the ledger of Shri. Ram as on 31^stMarch, 2012. Prepare Trial Balance as on that date.

Particulars	Rs	Particulars	Rs	Particulars	Rs
Capital	4,50,000	Sales	3.60,000	Coal, Gas & Water	10,000
Drawings	25,000	Cash in hand	5,000	Bills Receivable	20,000
Investment	10,000	Opening stock	40,000	Bills Payable	10,000
Building	70,000	Bad Debts	1,000	Trade Expenses	500
Debtors	20,000	Carriage Inward	5,000	Royalty	9,000
Creditors	25,000	Wages	20,000
Bank Loan	15,000	Plant & Machinery	3,00,000	Purchases	2,35,000
Furniture	60,000	Sales Return	7,000	Salary	20,000
General Insurance	2,000	Bank Charges	500

Q. Calculate the value of Opening Stock from the following:

	₹
Sales	2,05,000
Sales Returns	5,000
Purchases	1,24,000
Purchases Returns	4,000
Carriage Inwards	8,000
Closing Stock	36,000
Rate of Gross Profit on Sales	40%

Q. From the following balances, as on 31st March, 2018, prepare Trading and Profit and Loss Account and Balance Sheet:

	₹		₹
Capital Account	1,00,000	Returns Outward	5,000
Plant and Machinery	40,000	Rent	4,000
Sundry Debtors	24,000	Sales	1,64,000
Sundry Creditors	12,000	Manufacturing Expenses	8,000
Life Insurance Premium	12,000	Trade Expenses	7,000
Purchases	1,05,000	Bad Debts	2,000
Wages	50,000	Carriage	1,500
Bank	10,000	Bills Payable	7,000
Repairs	500	Returns Inward	4,000
Stock (1st April, 2017)	20,000

Closing Stock on 31st March, 2018 was valued at ₹ 14,500.

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Particulars	(₹)	Particulars	(₹)
Opening Stock	2,50,000	Purchases Returns	22,000
Purchases	7,00,000	Sales Return	36,000
Sales	18,00,000	Gas, Fuel and Power	75,000
Wages	2,06,000	Dock Charges	8,000
Carriage Inward	34,000	Factory Lighting	96,000
Carriage Outward	20,000	Office Lighting	5,000
Manufacturing Expenses	2,48,000

Trading Account for the year ended March 31,2017
Dr.						Cr.
Particulars		Amount (Rs)	Particulars		Amount (Rs)
Opening Stock		2,50,000	Sales	18,00,000
Purchases	7,00,000		Less: Sales Returns	36,000	17,64,000
Less: Purchases Returns	22,000	6,78,000	Closing Stock		6,00,000
Carriage Inward		34,000
Wages		2,06,000
Custom Duty		15,000
Gas, Fuel & Power		60,000
Dock Charges		8,000
Manufacturing Expenses		2,48,000
Factory Lighting		96,000
Gross Profit (Balancing Figure)		7,69,000
		23,64,000			23,64,000