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प्रश्न
Compute the cost of goods sold from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 10,000 | Indirect expenses | 5,000 |
| Purchases | 80,000 | Closing stock | 15,000 |
| Direct expenses | 7,000 |
उत्तर
Cost of goods sold = Opening stock + Net purchases + Direct expenses – Closing stock
= 10,000 + 80,000 + 7,000 – 15,000
= ₹ 82,000
APPEARS IN
संबंधित प्रश्न
Answer in One Sentence:
What is a Trading A/c?
From the following balances taken from the books of Saravanan, calculate gross profit for the year ended December 31, 2017.
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 1,50,000 | Net sales during the year | 4,00,000 |
| Direct expenses | 8,000 | Net purchases during the year | 1,50,000 |
| Closing Stock | 25,000 |
Gross Profit/loss is transferred from ______.
Wages, carriage inward are recorded on the ______ side of the ______.
Sales are recorded on the ______ side of the ______.
Why is a Trading Account prepared?
Mr. Patil, the owner of Jai Hind Engineers, submits the following trial balance to you for the year ended 31st March 2019:
| Dr. (₹) | Cr. (₹) | |
| Purchase and Sales | 16,180 | 75,200 |
| Opening Stock | 6,500 | |
| Drawings | 4,000 | |
| Motor Cycle | 12,500 | |
| Cycles and Carts Delivery | 2,500 | |
| Bad Debts | 200 | |
| Debtors and Creditors | 4,000 | 2,000 |
| Vehicle Expenses | 1,100 | |
| Capital | 8,600 | |
| Bills Receivable and Payable | 800 | 1,000 |
| Bank and Cash Balances | 1,800 | |
| Petty Cash | 100 | |
| Insurance Premium | 500 | |
| Salaries | 900 | |
| Petty Expenses | 300 | |
| Wages | 1,500 | |
| Rent | 3,000 | |
| Godown Rent | 1,800 | |
| General Expenditure | 700 | |
| Bank Loan | 2,000 | |
| Carriage Inwards | 500 | |
| Worker's Equipment | 30,000 | |
| Returns | 200 | 280 |
| 89,080 | 89,080 |
Prepare the final accounts for him. Closing stock is valued at ₹ 5,400.
The following is the trial balance of Mr. P. Crooke as on 31.03.2018.
| Debit (₹) | Credit (₹) | |
| Stock at Start | 30,000 | |
| Fuel & Gas | 5,600 | |
| Capital & Drawings | 8,000 | 3,50,000 |
| Debtors | 30,000 | |
| Bills Receivable & Payable | 12,000 | 8,000 |
| Additional Drawings (other than cash) | 4,000 | |
| Carriage | 9,000 | |
| Purchases & Sales | 1,90,000 | 3,40,000 |
| Bank Accounts | 15,000 | 5,000 |
| Creditors | 16,000 | |
| Returns | 5,000 | 20,000 |
| Office Administrative Expenses | 44,000 | |
| Loans (given & borrowed) | 10,000 | 1,00,000 |
| Petty Cash & Cash Balances | 2,000 | |
| Postage & Telegrams | 900 | |
| Printing & Stationery | 7,500 | |
| Wages | 20,000 | |
| Salaries | 14,000 | |
| Land | 1,50,000 | |
| Factory & Office Premises | 80,000 | |
| Machineries | 2,10,000 | |
| Commission | 8,000 | |
| 8,47,000 | 8,47,000 |
Compile the final accounts for the owner, after attending to the adjustment given below.
Adjustment:
- Stock in the Godown as on 31.3.2018 is ₹ 35,000.
The following is the Trial Balance of Amrit Roy as on 31st December 2018:
| Debit (₹) | Credit (₹) | |
| Capital | 25,000 | |
| Building | 30,000 | |
| Furniture | 2,640 | |
| Scooter | 4,000 | |
| Returns | 2,300 | 1,600 |
| Opening Stock | 8,000 | |
| Purchases and Sales | 33,800 | 56,040 |
| Bad Debts | 400 | |
| Carriage Inwards | 600 | |
| General Expenses | 1,200 | |
| Bad Debts Provision | 700 | |
| Bank Loan | 5,000 | |
| Interest on Bank Loan | 300 | |
| Commission | 900 | |
| Insurance and Taxes | 2,000 | |
| Scooter Expenses | 2,600 | |
| Salaries | 4,400 | |
| Cash in Hand | 2,000 | |
| Debtors and Creditors | 3,000 | 8,000 |
| 97,240 | 97,240 |
You are required to prepare the final accounts for the year ending 31st December 2018.
Closing Stock on 31.12.2018 was valued at ₹ 4,340.
From the following trial balance of Shri Rai Bahadur, prepare Trading, Profit and Loss Account for the year ending 31st March, 2018 and a Balance Sheet as on that date:
| TRIAL BALANCE | |||
| Debit Balance | (₹) | Credit Balance | (₹) |
| Drawings | 4,240 | Capital | 32,000 |
| Purchase less returns | 15,610 | Sales less Returns | 34,176 |
| Rates and Taxes | 388 | Sundry Creditors | 4,422 |
| Salaries | 1,612 | ||
| Lighting and Heating | 164 | ||
| Electric Power | 384 | ||
| Commission | 414 | ||
| Insurance | 206 | ||
| Advertising | 214 | ||
| Bad Debts | 62 | ||
| Postage, Telegrams, etc. | 826 | ||
| Carriage | 754 | ||
| Opening Stock | 6,160 | ||
| Wages | 7,962 | ||
| Land and Building | 15,840 | ||
| Plant and Machinery | 4,034 | ||
| Furniture and Fittings | 378 | ||
| Sundry Debtors | 6,082 | ||
| Cash at Bank | 5,268 | ||
| 70,598 | 70,598 | ||
The closing stock on 31st March was valued at ₹ 8,760.
