Question

The following balances are extracted from the books of M/s Rishi Brothers for the year
ended 31-12-2016-
₹
Opening Stock

5,000
sales 20,000
purchase 8,000

Purchases Return
200
Sales Return
400
Wages
4,000
Carriage Inward
300
Manufacturing expenses
100
Fuel
700
octroi 500
The closing stock on 31-12-2016 was valued at * 2,000 Draft necessary closing journal
entries and prepare Trading Account.
(Ans. Gross Profit 3,200]​

Answer 1

Answer:

the closing stock on 31 - 12- 2016 was valued at 2000 draft necessary closing journal entries and prepare trading account.

( gross profit 3200)