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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 03 Chapter No 18
3.From the following information determine Gross Profit for the year ended 31st March, 2018
| Opening Stock 1stApril, 2017 | 25,000 | Goods purchased during the year | 1,40,000 |
| Freight and Packing | 10,000 | Closing Stock 31stMarch, 2018 | 30,000 |
| Sales | 1,90,000 | Packing Expenses on Sales | 6,000 |
The solution of Question No 03 Chapter No 18:-
| Gross Profit | = | Sales + Closing Stock – Opening Stock +Freight and Packing +Goods Purchased |
| = | 1,90,000 + 30,000 – 25, 000 +10, 000 +1, 40, 000 | |
| = | 2,20,000 – 1,75,000 | |
| = | Rs 45,000 |
| Trading Account for the year ended March 31, 2018 | |||
| Particulars |
Amount | Particulars |
Amount |
|---|---|---|---|
| To Opening Stock | 25,000 | By Sales | 1,90,000 |
| To Purchases | 1,40,000 | ||
| To Freight and Packing | 10,000 | ||
| By Closing Stoc | 30,000 | ||
| To Gross Profit | 45,000 | ||
| 2,20,000 | 2,20,000 | ||
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