Question 1

From the following information, prepare a trading and profit and loss
account for TT Company for the year ended 31 March 20X7.
£
Stock as at 1 April 20X6 10,000
Purchases 56,000
Sales 93,800
Returns inwards 1,500
Returns outwards 3,250
Carriage In 5,150
Packaging 3,230
Stock as at 31 March 20X7 12,000
Rent Received 20,000
Wages & Salaries 10,000
Insurance 5,000
Question 1

TT Company
Trading and Profit and Loss Account for the year ended 31 March 20X7
£ £ £ £
Opening Stock 10,000 Sales 93,800
Purchases 56,000 Less : Returns 1,500
Less : Returns Out 3,250 92,300
52,750
Add : Carriage In 5,150
Packaging 3,230
Current Year Purchases 61,130
Total Stock For Sale 71,130
Less : Closing Stock 12,000
Cost of Goods Sold 59,130
Gross Profit c/d 33,170
92,300 92,300
Wages & Salaries 10,000 Gross Profit c/d 33,170
Insurance 5,000 Rent Received 20,000
Net Profit 38,170
53,170 53,170
Question 2

From the following information, prepare a trading and profit and loss
account for TT Company for the year ended 31 March 20X7.
£
Stock as at 1 April 20X6 16,000
Purchases 66,700
Sales 93,800
Returns inwards 2,500
Returns outwards 2,000
Carriage In 5,000
Packaging 5,000
Stock as at 31 March 20X7 12,000
Rent Received 20,000
Wages & Salaries 10,000
Insurance 5,000
Question 2

T T Company
Trading and Profit and Loss Account for the year ended 31 March 20X7
£ £ £ £
Opening Stock 16,000 Sales 93,800
Purchases 66,700 Less : Returns 2,500
Less : Returns Out 2,000 91,300
64,700
Add : Carriage In 5,000
Packaging 5,000
Current Year Purchases 74,700
Total Stock For Sale 90,700
Less : Closing Stock 12,000
Cost of Goods Sold 78,700
Gross Profit c/d 12,600
91,300 91,300
Wages & Salaries 10,000 Gross Profit c/d 12,600
Insurance 5,000 Rent Received 20,000
Net Profit 17,600
32,600 32,600
Question 3

From the following information, prepare a trading and profit and loss
account for TT Company for the year ended 31 March 20X7.
£
Stock as at 1 April 20X6 5,000
Purchases 60,000
Sales 85,000
Returns inwards 7,000
Returns outwards 3,750
Carriage In 3,200
Packaging 2,000
Stock as at 31 March 20X7 5,000
Rent Received 5,000
Wages & Salaries 20,000
Insurance 5,000
Question 3

T T Company
Trading and Profit and Loss Account for the year ended 31 March 20X7
£ £ £ £
Opening Stock 5,000 Sales 85,000
Purchases 60,000 Less : Returns 7,000
Less : Returns Out 3,750 78,000
56,250
Add : Carriage In 3,200
Packaging 2,000
Current Year Purchases 61,450
Total Stock For Sale 66,450
Less : Closing Stock 5,000
Cost of Goods Sold 61,450
Gross Profit c/d 16,550
78,000 78,000
Wages & Salaries 20,000 Gross Profit c/d 16,550
Insurance 5,000 Rent Received 5,000
Net Loss 3,450
25,000 25,000
Question 4

From the following information, prepare a trading and profit and loss
account for TT Company for the year ended 31 March 20X7.
£
Stock as at 1 April 20X6 10,000
Purchases 70,000
Sales 85,000
Returns inwards 2,500
Returns outwards 2,500
Carriage In 3,000
Packaging 2,000
Stock as at 31 March 20X7 10,000
Rent Received 5,000
Wages & Salaries 20,000
Insurance 5,000
Question 4

T T Company
Trading and Profit and Loss Account for the year ended 31 March 20X7
£ £ £ £
Opening Stock 10,000 Sales 85,000
Purchases 70,000 Less : Returns 2,500
Less : Returns Out 2,500 82,500
67,500
Add : Carriage In 3,000
Packaging 2,000
Current Year Purchases 72,500
Total Stock For Sale 82,500
Less : Closing Stock 10,000
Cost of Goods Sold 72,500
Gross Profit c/d 10,000
82,500 82,500
Wages & Salaries 20,000 Gross Profit c/d 10,000
Insurance 5,000 Rent Received 5,000
Net Loss 10,000
25,000 25,000