Question

Prepare a trading account of M/s Anjali from the following information Mated to 31st March, 2016.

$\begin{array}{cc}\text{Opening stock}& 60,000\\ \text{Purchases}& 3,00,000\\ \text{Sales}& 7,50,000\\ \text{Purchases return}& 18,000\\ \text{Sales return}& 30,000\\ \text{Carriage on purchases}& 12,000\\ \text{Carriage on sales}& 15,000\\ \text{Factory rent}& 18,000\\ \text{Office rent}& 18,000\\ \text{Dock and clearing charges}& 48,000\\ \text{Freight and octroi}& 6,500\\ \text{Coal, gas and water}& 10,000\end{array}$

Answer 1

Trading Account
$\begin{array}{cccccccc}\text{Dr}& & & & \text{for the year ended 31st March, 2016}& & & \text{Cr}\end{array}\begin{array}{cccc}\text{Partcutars}& \text{Amt (Rs.)}& \text{Particulars}& \text{Amt (Rs.)}\\ \text{To Opening Stock}& 60,000& \text{By Sales}7,50,000& \\ \text{To Purchases}3,00,000& & (-)\text{Sales Return}\underset{–}{30,000}& 7,20,000\\ (-)\text{Purchases Return}\underset{–}{18,000}& 2,82,000& & \\ \text{To Carnage on Purchases}& 12,000& & \\ \text{To Factory Rent}& 18,000& & \\ \text{To Oock and Clearing Charges}& 48,000& & \\ \text{To Freight and Octroi}& 8,503& & \\ \text{To Coal. Gas and Water}& 10,000& & \\ \text{To Gross Profit Transferred to}& 2,83,500& & \\ \text{Profit and Loss A/c}& & & \\ & \underset{–}{\overline{7,20,000}}& & \underset{–}{\overline{7,20,000}}\end{array}$

Note: Carriage on salves and office rent will not be debited to trading account as They are not direct expenses. It will appear in the profit and loss account as it is indirect expenses