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Prepare the Trading Account from the subsequent figures:
Opening Stock
40,000
Power
6,000
Purchases
1,80,000
Octroi
11,000
Carriage Inward
4,000
Freight
8,000
Wages
42,000
Sales
3,20,000
Return Outwards
7,000
Sales Return
10,000
Closing Stock Rs. 60,000
2) How is Purchases various from Net Purchases?
3) How are Net Sales various from Sales?
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
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1. Trading account is prepared so as to calculate gross profit or loss, whereas the function of the profit and loss account is to disclose net profit or loss. 2. Trading account
These are assets or things of value without physical dimensions. They cannot be touched; they representing intrinsic value without material being and they are incorporeal. One of t
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