From the following balances obtained from the records of Mr. Shankar, Prepare the Trading Account for
the year ending 31st March 2020.
₹
Opening Stock 2,00,000
Purchases for the year 20,00,000
Sales for the year 35,00,000
Carriage inwards 10,000
Closing stock is valued 5,00,000
Answers
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2
To Gross Profit 1790000
Explanation:
Trading A/c
Particulars Amount Particulars Amount
To Opening Stock 200000 By Sales 3500000
To Purchase 2000000 By Closing Stock 500000
To Carriage Inward 10000
To Gross Profit 1790000
4000000 4000000
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