Question

From the following balances taken from the books of Victor, prepare trading account for the year ended December 31, 2017:

Particulars	₹	Particulars	₹
Adjusted purchases	80,000	Closing stock	7,000
Sales	90,000	Carriage inwards	3,000
Royalty on purchases of goods	4,000	Import duty on purchases of goods	6,000
Octroi on purchase of goods	2,000	Dock charges on purchases	5,000
Cost of goods manufactured	5,000

Answer 1

Trading Account of Victor for the
year ended 31^st December, 2017

Particulars	₹	Particulars	₹
To Adjusted purchases	80,000	By Sales	90,000
To Royalty	4,000
To Octroi	2,000
To Cost of goods manufactured	5,000
To Carriage inwards	3,000
To Import duty	6,000	By Gross loss c/d	15,000
To Dock charges	5,000
	1,05,000		1,05,000