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Question 13 of 30
Q.

Prepare trading account in the books of Mr. Sanjay for the year ended 31st December 2017.

Particulars₹Particulars₹
Opening stock570Purchases15,800
Sales26,200Purchases Returns90
Sales Returns60Closing stock860
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 2mImportance★★★★★
43% · 13/30 Questions
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Gross Profit = ₹10,720, taken to the credit of the Profit & Loss Account.

The Trading Account in the Tamil Nadu HSC Class-11 Accountancy syllabus is prepared to find the gross profit or gross loss by comparing the cost of goods sold with net sales. Returns are first netted off:

  • Net purchases = ₹15,800 − ₹90 (purchases returns) = ₹15,710
  • Net sales = ₹26,200 − ₹60 (sales returns) = ₹26,140

Trading Account of Mr. Sanjay for the year ended 31st December 2017

Dr. Particulars₹Cr. Particulars₹
To Opening stock570By Sales 26,200
To Purchases 15,800  Less: Sales returns 6026,140
  Less: Purchases returns 9015,710By Closing stock860
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