Question No 05 Chapter No 17

Question No 05 Chapter No 17

05. Ascertain gross profit from the following figures:

 Rs Rs
Opening stock5,570Closing stock8,880
Purchases13,816Import duty252
Sales15,284Wages paid1,440
Purchases return390Return inwards524

The solution of Question No 05 Chapter No 17:-

Trading Account
Particular
AmountParticular
Amount
To opening Stock A/c 5,570By Sales15,284 
To Purchases13,816 Less: Return Inward52414,760
Less: Purchases return39013,426To Closing Stock 8,880
To Wages A/c 1,440   
To Import Duty A/c 252   
To Gross Profit 76,200   
  23,640  23,640

 

Final Accounts: Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

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