Prepare trading account for the year ended 31st December 2017, from the following balances:
| Particulars |
Rs |
Particulars |
RS |
| Opening stock |
4,00,000 |
Purchases returns |
1,20,000 |
| Purchases |
20,00,000 |
Carriage on purchases |
2,00,000 |
| Net sales |
48,00,000 |
Carriage on sales |
1,00,000 |
| Freight and octroi |
65,000 |
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1,20,000 |
| Selling expenses |
1,10,000 |
Office rent |
75,000 |
| Coal, gas and water |
22,000 |
Import duty on goods purchased |
7,28,000 |
Closing stock is valued at Rs. 6, 00,000.
