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Preparing A Trading Account for the year ending March 31, 2007 From the following balance as at March 31,2007: Stock 10,000 Purchases 1,00,000 Wages 5,000 Carriage Inwards 1,000 Sales (inclusive of sales tax) 1,70,000 Return Inwards 5,000 Returns Outward 8,000 Sales Tax Paid 15,000 Freight 500 Octroi Duty 2,500 Closing Stock as on March 31,2007 was valued at Rs.20,000

AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer

TRADING ACCOUNT

For year ending March 31,2007

Dr. Cr.

ParticularsParticularsAmountParticularsParticularsAmount
To Opening Stock
To Purchase
Less Return Outward
To wages
To Carriage Inward
To Freight
To Octroi Duty
To Profit and Loss A/c
(Gross Profit)		1,00,000
8,000		10,000
92,000
5,000
1,000
500
2,500
59,000		By Slales A/c
Less sales Tax
Less: Return Inward
By Closing Stock		1,70,000
15,000		1,50,000
20,000
To Opening Stock
To Purchase
Less Return Outward
To wages
To Carriage Inward
To Freight
To Octroi Duty
To Profit and Loss A/c
(Gross Profit)		1,00,000
8,000		10,000
92,000
5,000
1,000
500
2,500
59,000		By Slales A/c
Less sales Tax
Less: Return Inward
By Closing Stock		1,55,000
5,000		1,50,000
20,000
To Opening Stock
To Purchase
Less Return Outward
To wages
To Carriage Inward
To Freight
To Octroi Duty
To Profit and Loss A/c
(Gross Profit)		10,000
92,000
5,000
1,000
500
2,500
59,000		By Slales A/c
Less sales Tax
Less: Return Inward
By Closing Stock		1,55,000
5,000		1,50,000
20,000
To Opening Stock
To Purchase
Less Return Outward
To wages
To Carriage Inward
To Freight
To Octroi Duty
To Profit and Loss A/c
(Gross Profit)		10,000
92,000
5,000
1,000
500
2,500
59,000		By Slales A/c
Less sales Tax
Less: Return Inward
By Closing Stock		1,50,000
20,000
1,70,0001,70,000

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Accountancy · Class 11