Question

Stock of goods on 31st December, 1990
47,600
Purchases-Cash
36,800
-Credit
82,400
Return to suppliers
6,400-
Sales -Cash
- 51,200
-Credit
1,16,000
Return from customers
5,600
Carriage and Freight
6,000
Duty and clearing charges
5,000
Wages
24,000
(Ans. Gross profit Rs. 36,400]
4. Prepare the profit and loss account of Mr. Simranjit Singh for the year ending 30th
June, 1991, from the following information :-
Rs.
Rs.
Office salaries
320. Trade expenses
80
die Travelling expenses
250 Export duty
60
Discount received
120ch Postage and telegrams
15
Bad debts
240 Interest received
78
* Printing and stationery
110 Interest paid
58
tot Godown rent
600 or Rent of building sub-let
100
120
Commission earned
175v Legal charges
50
de Advertising
220mAudit fees
150
die Office rent
240 e Travellers salary
de Discount allowed
180 Trading account (Cr.)
2,850
Insurance-office
50
Insurance-godown
75
(Ans. Net profit Rs. 505]​

Answer 1

Answer:

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