Question

ILLUSTRATION 6. From the following information, prepare a Trading Account for the year ended 31s March, 2010: Cost of Goods Sold 8,00,000 Sales 10,00,000 Closing Stock 60,000 Wages 25000​

Answer 1

Answer:

From the following information, prepare Trading Account for the year ended 31st March, 2019: Cash Purchases Rs 1,50,000, Credit Purchases Rs 9,00,000, Returns Inward Rs 20,000, Cash Sales Rs 1,60,000, Credit Sales Rs 11,00,000, Reutrns Outward Rs 10,000, Freight Inwards Rs 3,000, Carriage Inwards Rs 3,000, Wages and Salaries Rs 4,000, Opening Stock Rs 1,50,000, Closing Stock Rs 88,000 but its net realisable value (market value) is Rs 84,000

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