Question

ACCOUNT
I
inal Accounts
5.55
Exercises
Prepare trading account of a trader for the year ending 31st December 1996 from the
following data:
Rs.
Opening Stock (1-1-96)
50,000
Goods purchased during 1996
2,80,000
Freight and packing on the above
20,000
Closing Stock (31-12-96)
60,000
Sales
3,80,000
Packing expenses on Sales for distribution
12,000
[Ans: Gross Profit - Rs. 90,000)
Prenare trading a
from the information iven below:​

Answer 1

Trading account of a trader for the year ending 31st December

1996

Dr Side. Cr Side

Particulars Amt. Particulars Amt

To Opening Stock 50,000. By Sales. 3,80,000

To Goods purchased 2,80,000

To Freight and packing 20,000

To Gross Profit 90,000 By Closing Stock 60,000

* Packing expenses on Sales for distribution should not be included on Trading A/c.