Advertisement

Question No 05 Chapter No 18 – T.S. Grewal 11 Class

Question No 05 Chapter No 18
Question No.05 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

Advertisement

Question No 05 Chapter No 18

Advertisement

5. Prepare Trading Account from the transactions given below:

    
Opening Stock 1stApril, 201723,000Purchases Return2,400
Purchases29,000Closing Stock47,700
Sales Return500Carriage Inwards100
Sales25,400Depreciation2,000

Also pass the Journal entries

The solution of Question No 05 Chapter No 18:-

Advertisement-X

 

Trading Account   
Particulars

AmountParticulars

Amount
To Opening Stock 25,000By Sales25,400 
To Purchases29,0001,40,000Less: Sales Return50024,900
Less: Purchases Return2, 40010,000   
To Carriage Inwards     
   By Closing Stoc 47,700
To Gross Profit 22,900   
  72,600  72,600

Note: Depreciation is an Indirect Expense, therefore it is not shown in the Trading Account.

 

Date  Particulars
L.F.DebitCredit
 Trading A/cDr. 52,600 
 To Opening Stock A/c   23,000
 To Purchases A/c   29,000
 To Carriage Inwards A/c   100
 To Sales Return A/c   500
 (Being Transfer of balances to the debit side of Trading A/c)    
 Sales A/cDr. 25,400 
 Purchase Return A/cDr. 2,400 
 To Trading A/c   27,800
 (Being Transfer of balances to the credit side of Trading A/c)    
 Closing Stock A/cDr. 47,700 
 To Trading A/c   47,700
 (Being Recording of Closing Stock)    
 Trading A/cDr. 22,900 
 To Profit & Loss A/c   22,900
 (Being Transfer of gross profit to the Profit & Loss A/c)    

 

 

Final Accounts: Meaning, Definition and Explanation

Advertisement-X

 

Trading Account: Meaning, Format and Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

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

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication

T.S. Grewal's Double Entry Book Keeping

Advertisement-X

T.S. Grewal’s Double Entry Book Keeping

Advertisement

Advertisement

error: Content is protected !!