Home
Class 11
ACCOUNTS
Prepare Trading Account for the year end...

Prepare Trading Account for the year ended 31st March, 2019 from the following balances:
`{:(,Rs,|,,Rs),("Stock" (1st " April, 2018"),"1,00,000",,"Purchases","10,00,000"),("Wages","50,000",,"Carriage Inwards","10,000"),("Sales","15,50,000",,"Returns Inward","50,000"),("Returns Outward","80,000",,,),("Freight Inwards","5,000",,,):}`
Closing Stock as on 31st March, 2019 was valued at Rs 2,00,000.
Also, pass the Closing Entries.

Text Solution

Verified by Experts


Promotional Banner

Topper's Solved these Questions

  • FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP

    TS GREWAL|Exercise Practical Problems|58 Videos
  • DEPRECIATION

    TS GREWAL|Exercise EVALUATION QUESTIONS: QUESTIONS WITH MISSING VALUES|3 Videos
  • INTRODUCTION TO ACCOUNTING

    TS GREWAL|Exercise Short Answer Type Questions|19 Videos

Similar Questions

Explore conceptually related problems

From the following information, prepare Trading Account for the year ended 31st March, 2019: {:(,Rs,|,,Rs),("Opening Stock","1,00,000",,"Wages","2,000"),("Purchaese","2,80,000",,"Freight Inwards","3,600"),("Closing Stock","80,000",,"Carriage Inwards","1,000"):} Gross Profit on Sales is 20%

Prepare Trading Account as on 31st March, 2019 from the following balances: {:(,Rs,),("Stock on 1st April, 2018"...............,"10,000",),("Sales Return"................,"5,000",),("Sales"............,"2,00,000",),("Wages"............,"11,000",),("Purchases".........,"2,00,000",),("Purchaes Return"........,"2,500",),("Carriage Inwards"........,"1,500",),("Carriage Outwards"........,"3,000",),("Freight Inwards"........,"2,500",):} The Closing Stock of goods as on 31st March, 2019 is Rs 20,000

Prepare Trading and Profit and Loss Account and Balance Sheet of Jagat Shan as at 31st March, 2019 from the following balance: The Closing Stock was valued at Rs 2,00,000

From the following balance taken from the Trial Balance of a firm as on 31 st March, 2019, prepare the Trading Account: {:(,,Rs,),("Opening Stock","Raw Material","40,000",),(,"Finished Goods","70,000",),("Purchases",,"1,80,000",),("Sales",,"3,50,000",),("Returns","Purchases","5,000",),(,"Sales","3,000",),("Wages",,"65,000",),("Factory Expenses",,"45,000",),("Freight","Inwards","10,000",),(,"Outwards","15,000",):} At the end of the concerned period, the stocks at hand were : {:("Raw Materials","35,000",),("Work-in-Process","10,000",),("Finished Goods","55,000",):}

From the following information, prepare Trading Account for the year ended 31st March, 2019: Net Realisable Value (Market Value) of stock as on 31st March, 2019 was Rs 1,20,000

TS GREWAL-FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP-Illustration
  1. State whether following expenditures are capital or revenue in nature ...

    Text Solution

    |

  2. State with reasons whether following are Capital or Revenue Expenditur...

    Text Solution

    |

  3. Prepare Trading Account for the year ended 31st March, 2019 from the f...

    Text Solution

    |

  4. Prepare Trading Account as on 31st March, 2019 from the following bala...

    Text Solution

    |

  5. From the following information, prepare Trading Account for the year e...

    Text Solution

    |

  6. From the following balance taken from the Trial Balance of a firm as o...

    Text Solution

    |

  7. From the following information, prepare Trading Account for the year e...

    Text Solution

    |

  8. Ascetain Cost of Goods Sold from the following {:(,Rs,|,,Rs),("Indir...

    Text Solution

    |

  9. Calculate Gross Profit when Totla Purchases during the year are Rs 8,0...

    Text Solution

    |

  10. Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases R...

    Text Solution

    |

  11. Opening Stock Rs 15,000, Sales Rs 48,000, Carriage Inwards Rs 3,000, S...

    Text Solution

    |

  12. From the following information, prepare Trading Account for the year e...

    Text Solution

    |

  13. Net Sales for the year ended 31st March, 2019 is Rs 9,00,000. If Gross...

    Text Solution

    |

  14. Net Sales for the year ended 31st March, 2019 is Rs 9,00,000. If Gross...

    Text Solution

    |

  15. Calculate closing stock from the following details: Opening Stock - ...

    Text Solution

    |

  16. Calculate Net Sales and Gross Profit from the following information: ...

    Text Solution

    |

  17. Following is the Trial Balance of Shamit on 31st March, 2019. Pass clo...

    Text Solution

    |

  18. From the following information of a trader, prepare his Profit and Los...

    Text Solution

    |

  19. Following is the Trial Balance of Venkat on 31st March, 2019. Prepare ...

    Text Solution

    |

  20. Computer Operating Profit and Net Profit from the following

    Text Solution

    |