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प्रश्न
From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit.
|
|
(₹) |
|
Closing stock |
2,50,000 |
|
Net sales during the year |
40,00,000 |
|
Net purchases during the year |
15,00,000 |
|
Opening stock |
15,00,000 |
|
Direct expenses |
80,000 |
₹
उत्तर
| Dr. | Trading Account as on March 31, 2017 | Cr. | |
| Particulars | Amount ₹ |
Particulars | Amount ₹ |
| Opening Stock | 15,00,000 | Net Sales | 40,00,000 |
| Net Purchases | 15,00,000 | Closing Stock | 2,50,000 |
| Direct Expenses | 80,000 | ||
| Gross Profit | 11,70,000 | ||
| 42,50,000 | 42,50,000 | ||
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संबंधित प्रश्न
What is the purpose of preparing trading and profit and loss account?
Explain the concept of cost of goods sold?
From the following balances extracted from the books of M/s Ahuja and Nanda. Calculate the amount of:
(a) Cost of goods available for sale
(b) Cost of goods sold during the year
(c) Gross Profit
|
|
₹ |
|
Opening stock |
25,000 |
|
Credit purchases |
7,50,000 |
|
Cash purchases |
3,00,000 |
|
Credit sales |
12,00,000 |
|
Cash sales |
4,00,000 |
|
Wages |
1,00,000 |
|
Salaries |
1,40,000 |
|
Closing stock |
30,000 |
|
Sales return |
50,000 |
|
Purchases return |
10,000 |
The following trial balance is extracted from the books of M/s Ram on March 31, 2017. You are required to prepare trading and profit and loss account and the balance sheet as on date:
| Account title | Amount ₹ |
Account title | Amount ₹ |
| Debtors | 12,000 | Apprenticeship premium | 5,000 |
| Purchases | 50,000 | Loan | 10,000 |
| Coal, gas and water | 6,000 | Bank overdraft | 1,000 |
| Factory wages | 11,000 | Sales | 80,000 |
| Salaries | 9,000 | Creditors | 13,000 |
| Rent | 4,000 | Capital | 20,000 |
| Discount | 3,000 | ||
| Advertisement | 500 | ||
| Drawings | 1,000 | ||
| Loan | 6,000 | ||
| Petty cash | 500 | ||
| Sales return | 1,000 | ||
| Machinery | 5,000 | ||
| Land and building | 10,000 | ||
| Income tax | 100 | ||
| Furniture | 9,900 |
The following is the trial balance of Mr. Deepak as on March 31, 2017. You are required to prepare trading account, profit and loss account and a balance sheet as on date:
| Account title | Debit Amount ₹ |
Account title | Credit Amount ₹ |
| Drawings | 36,000 | Capital | 2,50,000 |
| Insurance | 3,000 | Bills payable | 3,600 |
| General expenses | 29,000 | Creditors | 50,000 |
| Rent and taxes | 14,400 | Discount received | 10,400 |
| Lighting (factory) | 2,800 | Purchases return | 8,000 |
| Travelling expenses | 7,400 | Sales | 4,40,000 |
| Cash in hand | 12,600 | ||
| Bills receivable | 5,000 | ||
| Sundry debtors | 1,04,000 | ||
| Furniture | 16,000 | ||
| Plant and Machinery | 1,80,000 | ||
| Opening stock | 40,000 | ||
| Purchases | 1,60,000 | ||
| Sales return | 6,000 | ||
| Carriage inwards | 7,200 | ||
| Carriage outwards | 1,600 | ||
| Wages | 84,000 | ||
| Salaries | 53,000 |
Closing stock ₹ 35,000.
Prepare trading and profit and loss account and balance sheet from the following particulars as on March 31, 2017.
| Account Title | Debit Amount ₹ |
Credit Amount ₹ |
| Purchases and Sales | 3,52,000 | 5,60,000 |
| Return inwards and Return outwards | 9,600 | 12,000 |
| Carriage inwards | 7,000 | |
| Carriage outwards | 3,360 | |
| Fuel and power | 24,800 | |
| Opening stock | 57,600 | |
| Bad debts | 9,950 | |
| Debtors and Creditors | 1,31,200 | 48,000 |
| Capital | 3,48,000 | |
| Investment | 32,000 | |
| Interest on investment | 3,200 | |
| Loan | 16,000 | |
| Repairs | 2,400 | |
| General expenses | 17,000 | |
| Wages and salaries | 28,800 | |
| Land and buildings | 2,88,000 | |
| Cash in hand | 32,000 | |
| Miscellaneous receipts | 160 | |
| Sales tax collected | 8,350 |
Closing stock ₹ 30,000.
Prepare trading and profit and loss account and balance sheet of M/s Royal Traders from the following balances as on March 31, 2017.
| Debit balances | Amount ₹ |
Credit balances | Amount ₹ |
| Stock | 20,000 | Sales | 2,45,000 |
| Cash | 5,000 | Creditors | 10,000 |
| Bank | 10,000 | Bills payable | 4,000 |
| Carriage on purchases | 1,500 | Capital | 2,00,000 |
| Purchases | 1,90,000 | ||
| Drawings | 9,000 | ||
| Wages | 55,000 | ||
| Machinery | 1,00,000 | ||
| Debtors | 27,000 | ||
| Postage | 300 | ||
| Sundry expenses | 1,700 | ||
| Rent | 4,500 | ||
| Furniture | 35,000 |
Closing stock ₹ 8,000.
Prepare trading and profit and loss account from the following particulars of M/s Neema Traders as on March 31, 2017.
| Account Title | Debit Amount ₹ |
Account Title | Credit Amount ₹ |
| Buildings | 23,000 | Sales | 1,80,000 |
| Plant | 16,930 | Loan | 8,000 |
| Carriage inwards | 1,000 | Bills payable | 2,520 |
| Wages | 3,300 | Bank overdraft | 4,720 |
| Purchases | 1,64,000 | Creditors | 8,000 |
| Sales return | 1,820 | Capital | 2,36,000 |
| Opening stock | 9,000 | Purchases return | 1,910 |
| Machinery | 2,10,940 | ||
| Insurance | 1,610 | ||
| Interest | 1,100 | ||
| Bad debts | 250 | ||
| Postage | 300 | ||
| Discount | 1,000 | ||
| Salaries | 3,000 | ||
| Debtors | 3,900 |
Stock on March 31, 2017 ₹ 16,000.
From the following balances of M/s Nilu Sarees as on March 31, 2017. Prepare trading and profit and loss account and balance sheet as on date.
| Account Title | Debit Amount ₹ |
Account Title | Credit Amount ₹ |
| Opening stock | 10,000 | Sales | 2,28,000 |
| Purchases | 78,000 | Capital | 70,000 |
| Carriage inwards | 2,500 | Interest | 7,000 |
| Salaries | 30,000 | Commission | 8,000 |
| Commission | 10,000 | Creditors | 28,000 |
| Wages | 11,000 | Bills payable | 2,370 |
| Rent and taxes | 2,800 | ||
| Repairs | 5,000 | ||
| Telephone expenses | 1,400 | ||
| Legal charges | 1,500 | ||
| Sundry expenses | 2,500 | ||
| cash in hand | 12,000 | ||
| Debtors | 30,000 | ||
| Machinery | 60,000 | ||
| Investments | 90,000 | ||
| Drawings | 18,000 |
Closing stock, as on March 31, 2017 ₹ 22,000.
Prepare trading and profit and loss account of M/s Sports Equipments for the year ended March 31, 2017 and balance sheet as on that date:
| Account Title | Debit Amount ₹ |
Credit Amount ₹ |
| Opening stock | 50,000 | |
| Purchases and sales | 3,50,000 | 4,21,000 |
| Sales returns | 5,000 | |
| Capital | 3,00,000 | |
| Commission | 4,000 | |
| Creditors | 1,00,000 | |
| Bank overdraft | 28,000 | |
| Cash in hand | 32,000 | |
| Furniture | 1,28,000 | |
| Debtors | 1,40,000 | |
| Plants | 60,000 | |
| Carriage on purchases | 12,000 | |
| Wages | 8,000 | |
| Rent | 15,000 | |
| Bad debts | 7,000 | |
| Drawings | 24,000 | |
| Stationery | 6,000 | |
| Travelling expenses | 2,000 | |
| Insurance | 7,000 | |
| Discount | 5,000 | |
| Office expenses | 2,000 |
Closing stock as on March 31, 2017 ₹ 2,500
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,000 |
| Administration expenses | 45,000 |
| Selling and distribution Expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| Particulars | ₹ |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
