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Prepare training account of Mohan cloth merchant for the year 2014 from the following information
opening stock rs 20000
cash purchases 30000 credit purchases 20000 purchases return 2500 cash sales 45000 credit sales 25000 sales return 1600 octroi 200 loss of goods by fire 3000 Woods withdrawn for private use 1500 wages 600 commission on purchases 300 goods given in charity 250 carries in ward 1450 good given free a sample rs 250 good sent on consignment at cost 2500 the closing stock was valued at 4500?
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Prepare training account of Mohan cloth merchant for the year 2014 fro...
Training Account of Mohan Cloth Merchant for the Year 2014

Opening Stock
- Opening stock: Rs 20,000

Purchases
- Cash purchases: Rs 30,000
- Credit purchases: Rs 20,000
- Purchases return: Rs 2,500
- Total purchases: Rs 47,500

Sales
- Cash sales: Rs 45,000
- Credit sales: Rs 25,000
- Sales return: Rs 1,600
- Total sales: Rs 68,400

Expenses
- Octroi: Rs 200
- Loss of goods by fire: Rs 3,000
- Goods withdrawn for private use: Rs 1,500
- Wages: Rs 600
- Commission on purchases: Rs 300
- Goods given in charity: Rs 250
- Carriage inward: Rs 1,450

Other Transactions
- Goods given free as a sample: Rs 250
- Goods sent on consignment at cost: Rs 2,500

Closing Stock
- Closing stock: Rs 4,500

Calculations
- Total purchases (including returns): Rs 47,500 - Rs 2,500 = Rs 45,000
- Total sales (including returns): Rs 68,400 - Rs 1,600 = Rs 66,800
- Gross profit: Rs 66,800 - Rs 45,000 = Rs 21,800

Conclusion
The training account for Mohan Cloth Merchant for the year 2014 shows a gross profit of Rs 21,800. It is essential to track all transactions accurately to calculate the profit and loss effectively.
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Prepare training account of Mohan cloth merchant for the year 2014 from the following informationopening stock rs 20000cash purchases 30000 credit purchases 20000 purchases return 2500 cash sales 45000 credit sales 25000 sales return 1600 octroi 200 loss of goods by fire 3000 Woods withdrawn for private use 1500 wages 600 commission on purchases 300 goods given in charity 250 carries in ward 1450 good given free a sample rs 250 good sent on consignment at cost 2500 the closing stock was valued at 4500?
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Prepare training account of Mohan cloth merchant for the year 2014 from the following informationopening stock rs 20000cash purchases 30000 credit purchases 20000 purchases return 2500 cash sales 45000 credit sales 25000 sales return 1600 octroi 200 loss of goods by fire 3000 Woods withdrawn for private use 1500 wages 600 commission on purchases 300 goods given in charity 250 carries in ward 1450 good given free a sample rs 250 good sent on consignment at cost 2500 the closing stock was valued at 4500? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Prepare training account of Mohan cloth merchant for the year 2014 from the following informationopening stock rs 20000cash purchases 30000 credit purchases 20000 purchases return 2500 cash sales 45000 credit sales 25000 sales return 1600 octroi 200 loss of goods by fire 3000 Woods withdrawn for private use 1500 wages 600 commission on purchases 300 goods given in charity 250 carries in ward 1450 good given free a sample rs 250 good sent on consignment at cost 2500 the closing stock was valued at 4500? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare training account of Mohan cloth merchant for the year 2014 from the following informationopening stock rs 20000cash purchases 30000 credit purchases 20000 purchases return 2500 cash sales 45000 credit sales 25000 sales return 1600 octroi 200 loss of goods by fire 3000 Woods withdrawn for private use 1500 wages 600 commission on purchases 300 goods given in charity 250 carries in ward 1450 good given free a sample rs 250 good sent on consignment at cost 2500 the closing stock was valued at 4500?.
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