Question

calculate opening stock
cash sales 60000
sales return (out of credit sales) 5000
purchase return 4000
closing stock 36000
credit sales 155000
purchases 124000
carriage inwards 8000
rate of gross profit 40% on sales

Answer 1

Answer:

cash a/c. Dr

To sales a/c

sales return a/c. Dr

To cash a/c

cash a/c. Dr

To Purchase return

closing stock a/c. Dr

To cash a/c

?

Purchases a/c. Dr

To cash a/c

carriage a/c. Dr

To cash a/c