Question

calculate gross profit from the following balance obtained from m /s Binu stationery Mart for the year ending 31 -3- 2003 opening stock rupees 21000 cash purchases rupees 89000 credit purchases RS 51000 closing stock RS 40000 credit sale RS 60000 cash sales RS 150000 purchase return RS 15000 wages RS 18000 sales return RS 12000​

Answer 1

Answer:

In trading account the items will appear in debit side

opening stock

add purchase and credit purchase from total amount less purchase return

wages

now in credit side

add cash and credit sales from the total amount less sales return

then closing stock

the final answer will be gross profit or loss