Question

7. From the following Particulars, prepare Trading and Profit & Loss A/c as on 31-12-2018.
Ans: Net Profit = * 9,000
1200
Opening Stock
Purchases
7700
Wages
750
Rent
650
Purchase Returns
200
Sales
15500
Discount Allowed
525
400
Sales Returns
Travelling Expenses
interest Received
300
800
Customs Duty
600
Clearing Charges
400
Trade expenses
700
Closing Stock
4000
Gross Profit : * 4200
Net Profit : *2975​

Answer 1

Answer:

400

Trade expenses

700

Closing Stock

4000

Gross Profit : * 4200

Net Profit : *2975