Question

find the cost of goods sold opening stock 20000, purchase 200,000carriage2000 closing stock 15000​

Answer 1

Answer:

Particulars  Amount (Rs) Particulars Amount (Rs)

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

       

Page No 19.39:

Question 2:

Question

ANSWER:

Trading Account  

for the year ended March 31, 2010

Dr.   Cr.

Particulars  Amount (Rs) Particulars Amount (Rs)

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: Closing Stock will not be shown on the Credit side of Trading Account since it has already been adjusted while calculating adjusted purchases.

Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock