1.

Calculate closing stock from the followingSales – 20,000Purchases – 12,300Return inwards – 500Carriage inwards – 400Return outwards – 1,000Gross Profit – 8000

Answer»

Trading Account

ParticularsAmountsParticularsAmount
Purchase  12300
Less          1000

11300
Sales   20000
Less    500

19500
returnsReturns
Carriage400Closing200
inwardsStock(Balancing figure)
Gross profit8000
1970019700



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