Trial balance of a trader shows the following balances:
Opening Stock Rs. $9, 600$ , Purchases Rs. $11, 850$ , Wages and Salaries Rs. $3, 200$ . Carriage on Purchases Rs. $200$ , Carriage Outwards Rs. $300$ , Sales A/cs Rs. $24, 900$ , Closing Stock is Rs. $3, 500$ Gross Profit will be _____________.

Rs.

3, 550

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Rs.

6, 750

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Rs.

6, 500

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Rs.

6, 550

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Solution

The correct option is A Rs. $3, 550$
Trading Account
Particulars Amount Particulars Amount
To Opening Stock 9600 By Sales 24900
To Purchases 11850 By Closing Stock 3500
To Carriage 200
To wages and salaries 3200
To Gross Profit 3550
Total 28400 Total 28400

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Similar questions

Q. Opening Stock Rs. 90,000, Cash Sales Rs. 36,000, Credit Sales Rs. 7,20,000, Returns outwards Rs. 6,000. Wages & Salaries Rs. 2,400 Carriage Inwards Rs. 1,200. Freight Inwards Rs. 1,800, Cartage Inwards Rs. 600, Cash Purchases Rs. 30,000, Credit Purchases 6,00,000, Returns Inward Rs. 12,000, Cost of closing Stock as on 31st March Rs. 54,000 but its market value is Rs. 50,400, Freight outwards Rs. 600. The Gross Profit for the year is _____________.

Calculate closing stock and cost of goods sold. Opening stock Rs. 5,000 ; sales Rs. 16,000; carriage inwards Rs. 1,000, sales return Rs. 1,000; gross profit Rs. 6,000; purchases Rs. 10,000; purchases return Rs. 900.

Given the following data: Purchases Rs. 4,500, Returns outwards Rs. 300, Returns inwards Rs. 150, Carriage outwards Rs. 830, Carriage inwards Rs. 260, Opening stock Rs. 935, and closing stock Rs. 1,100. The value of the cost of goods sold is:

Q. Adjusted Purchases Rs. 6,63,600, Sales Rs. 7,44,000, Closing Stock Rs. 50,400, Freight & Cartage Inward Rs. 3,600, Wages Rs. 2,400, Freight & Cartage outward Rs. 1.800 Opening stock 48,600. calculate gross profit for the year end ____________.

Q. Purchases-Rs. 26,000, Carriage Inwards- Rs. 890, Opening Stock- Rs. 4,500, and Closing Stock- Rs. 6,130. From the given information, cost of sales = .

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Particulars	Amount	Particulars	Amount
To Opening Stock	9600	By Sales	24900
To Purchases	11850	By Closing Stock	3500
To Carriage	200
To wages and salaries	3200
To Gross Profit	3550
Total	28400	Total	28400

Trial balance of a trader shows the following balances:Opening Stock Rs.9,600, Purchases Rs.11,850, Wages and Salaries Rs.3,200. Carriage on Purchases Rs.200, Carriage Outwards Rs.300, Sales A/cs Rs.24,900, Closing Stock is Rs.3,500 Gross Profit will be _____________.

The correct option is A Rs.3,550 Trading Account Particulars Amount ParticularsAmount To Opening Stock 9600 By Sales 24900 To Purchases 11850 By Closing Stock 3500 To Carriage 200 To wages and salaries 3200 To Gross Profit 3550 Total 28400 Total 28400

The correct option is A Rs. $3, 550$
Trading Account
Particulars Amount Particulars Amount
To Opening Stock 9600 By Sales 24900
To Purchases 11850 By Closing Stock 3500
To Carriage 200
To wages and salaries 3200
To Gross Profit 3550
Total 28400 Total 28400