Chapter 37 Trading Accounts

Question One
Sales
Sales Returns
Net Sales

1,000,000
175,000

Question Two
Sales
800,000
Sales Returns 200,000
Net Sales

Purchases
Purchase Returns

654,000
85,000

Purchases
324,000
Purchase Returns 100,000

Opening Stock (Add)

20,000
Purchases Balance
Closing Stock (Less)
5,000
Cost of Sales
Net Sales
Cost of Sales

Opening Stock (Add)

Purchases Balance
Closing Stock (Less)
2,000
Cost of Sales
Net Sales
Cost of Sales

Gross Profit
Gross Profit
Complete the following calculations,

Question One
Sales
Less: Sales
Returns
Net Sales
Less: Cost of
Sales
Purchases
Less: Purchase
Returns
Cost of Sales
Gross Profit

Question Two
Sales
Less: Sales
Returns
Net Sales

10,000

Chapter 37 Trading Accounts

Less: Cost of
Sales
Purchases
Less: Purchase
Returns
Cost of Sales
Gross Profit
Question Three

Sales
Less: sales returns
Net sales
Less cost of sales
Purchases
Less: purchases
returns
Cost of sales
Gross Profit

500,000
105,000

95,000
5,000

Find the Gross Profit of the following Trading Account

Question Four
Calculate the Net Sales, Cost of Sales & Gross Profit

Sales
Less: sales returns
Net sales
Less: cost of sales
Opening Stock
(Add)
Purchases

1,000,000
190,000

50,000
500,00
0

Chapter 37 Trading Accounts

Less: purchases
returns
Closing Stock
(Less)
Cost of sales
Gross Profit

105,00
0
20,000

Question Five
Insert the following information to complete the Trading
Account and find the Gross Profit
Carriage Inwards 2,500 (Add)
Manufacturing Wages 1,000 (Add)

Sales
Less: sales returns
Net sales
Less: cost of sales
Opening Stock
(Add)
Purchases
Less: purchases
returns

Closing Stock (Less)

Cost of sales
Gross Profit

900,000
80,000

20,000
100,000
50,000

10,000

Chapter 37 Trading Accounts