Question No 10 Chapter No 18 - T.S. Grewal 11 Class

Question No 10 Chapter No 18

10.From the following information, prepare Trading account for the year ended 31st March, 2018: Adjusted Purchases 5,50,000; Sales 6,25,000; Freight and Carriage Inwards 3,000; Wages 7,000; Freight and Cartage Outwards 2,500; Closing Stock 50,000

 

The solution of Question No 10 Chapter No 18:-

 

Trading Account
Particulars		Amount	Particulars		Amount
To Purchase (Adjusted)		5,50,000	By Sales		6,25,000
To Freight and Carriage Inwards		3,000
To Wages		7,000
To Gross Profit		65,000
		6,25,000			6,25,000

Note:
1. Freight and Carriage Outwards are indirect expenses, therefore it is not recorded in the Trading Account.
2. Closing Stock i. e. Rs 50,000 is not recorded in the Trading Account as it is already adjusted in the amount of Adjusted Purchases.

 

https://tutorstips.com/final-accounts/

 

https://tutorstips.com/trading-account/

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Also, Check out the solved question of previous Chapters: -

• • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 - Accounting Equation
  • Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 - Journal
  • Chapter No. 9 - Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

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