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Get complete step-by-step solutions for T.S. Grewal ISC Class 11 Accountancy - Chapter 19 - Final Accounts without Adjustments. Study double-entry system details, practice timed problems, and verify answers directly.
Chapter 19 - Final Accounts without Adjustments
Prepare Trading Account from the transactions given below:
| Particulars | ₹ | Particulars | ₹ |
|---|---|---|---|
| Opening Stock | 23,000 | Purchases Return | 2,400 |
| Purchases | 29,000 | Closing Stock | 47,700 |
| Sales Return | 500 | Carriage Inwards | 100 |
| Sales | 25,400 | Depreciation | 2,000 |
Note: Depreciation is an indirect expense for Profit & Loss Account, not the Trading Account, so it is not used here.
Trading Account for the year ended 31st March
| Dr. | Cr. | ||
|---|---|---|---|
| Particulars | ₹ | Particulars | ₹ |
| To Opening Stock | 23,000 | By Sales (25,400 − 500 Sales Return) | 24,900 |
| To Purchases (29,000 − 2,400 Purchases Return) | 26,600 | By Closing Stock | 47,700 |
| To Carriage Inwards | 100 | ||
| To Gross Profit c/d (transferred to Profit & Loss A/c) | 22,900 | ||
| Total | 72,600 | Total | 72,600 |
Answer: Gross Profit = ₹ 22,900.
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.