Q8. From the following information, prepare the trading account for the year ending December 31, 2007.
Particulars Amount (rs.)
Credit purchases 11,70,000
Cash purchases 1,95,000
Return inwards 26,000
Return outwards 13,000
Cash sales 2,08,000
Credit sales 14,30,000
Freight inward 7,800
Carriage outwards 9,000
Wages 5,200
Opening stock 1,95,000
Closing stock (cost price) 1,14,400
Market value of closing stock 1,09,200
Share
Explanation:
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