Page 1
Q.1 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.
The solution for this question is as follows:
Trading Account for the year ended March 31,2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
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
Page 2
Q.1 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.
The solution for this question is as follows:
Trading Account for the year ended March 31,2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
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
Q. 2(A) From the following information, prepare the Trading Account for the year ended 31st March, 2017:
Adjusted Purchases ? 15,00,000; Sales ? 21,40,000; Returns Inwards ? 40,000; Freight and Packing ?
15,000; Packing Expenses on Sales ? 20,000; Depreciation ? 36,000; Factory Expenses ? 60,000; Closing
Stock ? 1,20,000.
The solution for this question is as follows:
Trading Account for the year end March 31, 2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchases 15,00,000 Sales 21,40,000
Freight & Packing 15,000 Less: Return Inwards 40,000 21,00,000
Factory Expenses 60,000
Gross Profit (Balancing Figure) 5,25,000
21,00,000
21,00,000
Note: Since closing stock is already adjusted in purchases. Therefore, the closing stock will not be on the Credit
side of Trading Account
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Page 3
Q.1 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.
The solution for this question is as follows:
Trading Account for the year ended March 31,2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
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
Q. 2(A) From the following information, prepare the Trading Account for the year ended 31st March, 2017:
Adjusted Purchases ? 15,00,000; Sales ? 21,40,000; Returns Inwards ? 40,000; Freight and Packing ?
15,000; Packing Expenses on Sales ? 20,000; Depreciation ? 36,000; Factory Expenses ? 60,000; Closing
Stock ? 1,20,000.
The solution for this question is as follows:
Trading Account for the year end March 31, 2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchases 15,00,000 Sales 21,40,000
Freight & Packing 15,000 Less: Return Inwards 40,000 21,00,000
Factory Expenses 60,000
Gross Profit (Balancing Figure) 5,25,000
21,00,000
21,00,000
Note: Since closing stock is already adjusted in purchases. Therefore, the closing stock will not be on the Credit
side of Trading Account
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Q.2(B) Calculate Gross Profit from the following information:
?
Closing Stock 70,000
Wages 40,000
Salary 30,000
Sales 6,88,000
Adjusted Purchase 5,50,000
The solution for this question is as follows:
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchase 5,50,000 Sales 6,88,000
Wages 40,000
Gross Profit (Balancing Figure) 98,000
6,88,000
6,88,000
Note: Since the adjusted purchases are already given, the stocks will not be considered while calculating Gross
Profit.
Page 4
Q.1 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.
The solution for this question is as follows:
Trading Account for the year ended March 31,2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
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
Q. 2(A) From the following information, prepare the Trading Account for the year ended 31st March, 2017:
Adjusted Purchases ? 15,00,000; Sales ? 21,40,000; Returns Inwards ? 40,000; Freight and Packing ?
15,000; Packing Expenses on Sales ? 20,000; Depreciation ? 36,000; Factory Expenses ? 60,000; Closing
Stock ? 1,20,000.
The solution for this question is as follows:
Trading Account for the year end March 31, 2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchases 15,00,000 Sales 21,40,000
Freight & Packing 15,000 Less: Return Inwards 40,000 21,00,000
Factory Expenses 60,000
Gross Profit (Balancing Figure) 5,25,000
21,00,000
21,00,000
Note: Since closing stock is already adjusted in purchases. Therefore, the closing stock will not be on the Credit
side of Trading Account
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Q.2(B) Calculate Gross Profit from the following information:
?
Closing Stock 70,000
Wages 40,000
Salary 30,000
Sales 6,88,000
Adjusted Purchase 5,50,000
The solution for this question is as follows:
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchase 5,50,000 Sales 6,88,000
Wages 40,000
Gross Profit (Balancing Figure) 98,000
6,88,000
6,88,000
Note: Since the adjusted purchases are already given, the stocks will not be considered while calculating Gross
Profit.
Question 3(A)
Calculate cost of goods sold from the following:
?
?
Opening Stock 40,000 Wages & Salaries 10,000
Net Purchases 50,000 Rent Paid 15,000
Net Sales 1,90,000 Closing Stock 15,000
The solution for this question is as follows:
Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses – Closing Stock
Cost of Goods Sold = 40,000 + 50,000 + 10,000 – 15,000 = ? 85,000
Question 3(B)
Ascertain cost of Goods Sold and Gross Profit from the following:
?
Opening Stock 32,000
Purchases 2,80,000
Direct Expenses 20,000
Indirect Expenses 45,000
Closing Stock 50,000
Sales 4,00,000
Sales Returns 8,000
Page 5
Q.1 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.
The solution for this question is as follows:
Trading Account for the year ended March 31,2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
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
Q. 2(A) From the following information, prepare the Trading Account for the year ended 31st March, 2017:
Adjusted Purchases ? 15,00,000; Sales ? 21,40,000; Returns Inwards ? 40,000; Freight and Packing ?
15,000; Packing Expenses on Sales ? 20,000; Depreciation ? 36,000; Factory Expenses ? 60,000; Closing
Stock ? 1,20,000.
The solution for this question is as follows:
Trading Account for the year end March 31, 2017
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchases 15,00,000 Sales 21,40,000
Freight & Packing 15,000 Less: Return Inwards 40,000 21,00,000
Factory Expenses 60,000
Gross Profit (Balancing Figure) 5,25,000
21,00,000
21,00,000
Note: Since closing stock is already adjusted in purchases. Therefore, the closing stock will not be on the Credit
side of Trading Account
Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Q.2(B) Calculate Gross Profit from the following information:
?
Closing Stock 70,000
Wages 40,000
Salary 30,000
Sales 6,88,000
Adjusted Purchase 5,50,000
The solution for this question is as follows:
Dr.
Cr.
Particulars Amount ? Particulars Amount ?
Adjusted Purchase 5,50,000 Sales 6,88,000
Wages 40,000
Gross Profit (Balancing Figure) 98,000
6,88,000
6,88,000
Note: Since the adjusted purchases are already given, the stocks will not be considered while calculating Gross
Profit.
Question 3(A)
Calculate cost of goods sold from the following:
?
?
Opening Stock 40,000 Wages & Salaries 10,000
Net Purchases 50,000 Rent Paid 15,000
Net Sales 1,90,000 Closing Stock 15,000
The solution for this question is as follows:
Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses – Closing Stock
Cost of Goods Sold = 40,000 + 50,000 + 10,000 – 15,000 = ? 85,000
Question 3(B)
Ascertain cost of Goods Sold and Gross Profit from the following:
?
Opening Stock 32,000
Purchases 2,80,000
Direct Expenses 20,000
Indirect Expenses 45,000
Closing Stock 50,000
Sales 4,00,000
Sales Returns 8,000
The solution for this question is as follows:
Gross Profit = Net Sale- Cost of Goods Sold
Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses – Closing Stock
Cost of Goods Sold = 32,000 + 2,80,000 + 20,000 – 50,000 = ? 2,82,000
Net Sale= Sales – Sales Return
= 4,00,000 – 8,000
= 3,92,000
Therefore, Gross Profit = 3,92,000 – 2,82,000
= ?1,10,000
Q.4 Calculate Gross Profit on the basis of the following information:
?
Purchases 6,80,000
Return Outwards 30,000
Carriage Inwards 20,000
Carriage Outwards 15,000
Wages 50,000
3/4 of the goods are sold for ? 6,00,000.
The solution for this question is as follows:
Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses – Closing Stock
Net Purchases = Purchase – Purchase Return
= 6,80,000 – 30,000 = 6,50,000
Direct Expense = Carriage Inwards + Wages
= 20,000 +50,000 = ?70,000
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