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    Trading Account of - For The Year Ended

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    Usman Mandal
    This document summarizes the trading and profit/loss accounts for a business for the year ended. The trading account details sales, purchases, opening/closing stock, wages and other direct expenses. The profit/loss account details gross profit from trading, administrative expenses, salaries, rent, depreciation and other indirect expenses to arrive at the net profit/loss for the year. The balance sheet outlines the assets, liabilities and capital of the business as of the year-end, including fixed assets, current assets, long-term debts and equity.

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    Download as DOCX, PDF, TXT or read online from Scribd

    Trading Account of - For The Year Ended

    Uploaded by

    Usman Mandal
    110 views3 pages
    This document summarizes the trading and profit/loss accounts for a business for the year ended. The trading account details sales, purchases, opening/closing stock, wages and other direct expenses. The profit/loss account details gross profit from trading, administrative expenses, salaries, rent, depreciation and other indirect expenses to arrive at the net profit/loss for the year. The balance sheet outlines the assets, liabilities and capital of the business as of the year-end, including fixed assets, current assets, long-term debts and equity.

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    Original Title

    Final Account

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    This document summarizes the trading and profit/loss accounts for a business for the year ended. The trading account details sales, purchases, opening/closing stock, wages and other direct expenses. The profit/loss account details gross profit from trading, administrative expenses, salaries, rent, depreciation and other indirect expenses to arrive at the net profit/loss for the year. The balance sheet outlines the assets, liabilities and capital of the business as of the year-end, including fixed assets, current assets, long-term debts and equity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    110 views3 pages

    Trading Account of - For The Year Ended

    Uploaded by

    Usman Mandal
    This document summarizes the trading and profit/loss accounts for a business for the year ended. The trading account details sales, purchases, opening/closing stock, wages and other direct expenses. The profit/loss account details gross profit from trading, administrative expenses, salaries, rent, depreciation and other indirect expenses to arrive at the net profit/loss for the year. The balance sheet outlines the assets, liabilities and capital of the business as of the year-end, including fixed assets, current assets, long-term debts and equity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Trading Account of --------------------- for the year ended----------------------------

    Particulars Amount(Rs) Particulars Amount(Rs)


    To Opening Stock By Sales
    Less: Sales returns
    To Purchases By Closing Stock
    Less: Purchase returns
    To Wages (or) productive wages By Goods destroyed by fire
    (or) manufacturing wages (or)
    direct wages (or) wages and
    salaries.
    To Carriage (or) Freight (or) By GROSS LOSS c/d
    carriage on purchase (or) carriage (transferred to Profit and loss
    inwards a/c)
    To Direct expenses (or)
    productive expenses (or)
    manufacturing expenses
    To custom duty
    To Excise duty
    To Import duty
    To Clearing charges
    To Octori
    To Haulage
    To Fuel and Power
    To Gas
    To Coal and water
    To Steam
    To Factory expenses
    To Factory insurance
    To Factory rent
    To Factory lighting and heating
    To Dock duty
    To plant manager salary
    To royalty (or) Royalty on
    production.
    To Foreman salary/ wage
    To Supervisor salary/ wage
    To commission of purchase
    To GROSS PROFIT c/d
    (Transferred to Profit and Loss
    a/c)
    Profit and Loss a/c of ---------------- for the year ended -------------------
    Particulars Amount (Rs) Particulars Amount (Rs)
    To GROSS LOSS b/d By GROSS PROFIT b/d
    To Office & Admn. expenses By Interest received
    To Salaries (or) Salaries and wages By Commission received
    To Indirect wages (or) By dividend received
    Unproductive wages
    To office rent, rates and insurance By Discount received
    To Printing and stationary By Rent from sub – let
    To Postage and telegram By income from investment
    To Bank charges By interest on debentures
    To Legal charges By profit on sale of fixed assets
    To Audit fee By profit on revaluation of fixed
    assets
    To General expenses By bad debts recovered
    To Trading expenses By transfer fee
    To Loss due to fire accident By interest on drawings
    To Advertisement By NET LOSS
    (Transfer to capital a/c)
    To Discount allowed
    To Commission paid
    To sales man commission
    To commission to agents
    To commission on sales
    To Travelling expenses
    To Selling expenses
    To Free samples
    To Distribution expenses
    To Depreciation on fixed assets
    To loss on sale of fixed assets
    To loss on revaluation of assets
    To interest
    To travelling expenses
    To Delivery van expenses
    To carriage outward (fright on
    sale)
    To royalty on units sold
    To warehouse rent
    To Bad debts
    To interest on capital
    To Good will written off
    To preliminary exp. Written off
    To transfer to reserves
    To General manager commission
    To NET PROFITT
    (transferred to capital a/c)
    Balance Sheet of ----------------- for the year ended -----------------------
    Liabilities Amount (Rs) Assets Amount (Rs)
    CAPITAL &RESERVES; FICTIOUS ASSETS:
    Capital Preliminary expenses
    Add: Net profit(Ref.P&L a/c) Misc. expenses
    Add: interest on capital
    Less: Drawings
    Less: interest on drawings
    Less: income tax (of owner)
    General reserve FIXED ASSETS:
    Reserve for contingency Intangible fixed assets:
    Reserve for sinking fund Goodwill
    LONG – LIABILITIES: Patents
    Debentures Copy rights
    Loan from banks and financial Trade marks
    institutions
    Loan from mortgage Tangible fixed assets:
    Loan from pledge Plant and Machinery
    Other long term loans Furniture and Fixtures
    CURRENT LIABILITIES: Land and Buildings
    Sundry creditors (or) Trade Loose tools and equipments
    creditors (or) creditors
    Bills payable Vehicles
    Bank over draft INVESTMENTS:
    Cash credit Short term or long term
    investments
    Outstanding expenses securities
    Incomes received in advance Debenture and shares of other
    companies
    CURRENT ASSETS:
    Debtors (or) sundry debtors
    Bills receivables
    Stock (or) Inventory
    Cash in hand
    Cash at bank
    Prepaid expenses
    Incomes receivable
    xxxxxxxx xxxxxxxx

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