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Trading & Profit or Loss Account

Which of the ...

Question

Which of the following is not included in the Trading account?

A

Foreman`s wages

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B

Carriage inwards

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C

Direct wages

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D

Depreciation on office equipment

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Solution

The correct option is D
Depreciation on office equipment

Depreciation on office equipment is not included in the Trading account.

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Q. Give one word or term or phrase for each of the following statements:
State the group in which carriage outwards and wages are included.

Q. Give one word or term or phrase for each of the following statements.

State the group in which carriage outwards and wages are included.

Q. From the following information, prepare Trading account for the year ended 31st March, 2018:
Adjusted Purchases ₹ 5,50,000; Sales ₹ 6,25,000; Freight and Carriage Inwards ₹ 3,000; Wages ₹ 7,000; Freight and Cartage Outwards ₹ 2,500; Closing Stock ₹ 50,000.

Q. 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.

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.

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