To prepare the trading account of Bimal Das for the year ending 31st March, 2022, we'll calculate his gross profit using the given particulars:
1. Opening stock (stock of goods on 1st April, 2021): Rs. 25,000
2. Closing stock (stock of goods on 31st March, 2022): Rs. 47,600
3. Purchases:
- Cash purchases: Rs. 36,800
- Credit purchases: Rs. 82,400
- Return to suppliers: Rs. 6,400
4. Sales:
- Cash sales: Rs. 116,000
- Credit sales: Rs. 5,600
- Return from customers: Rs. 6,000
5. Expenses:
- Carriage and Freight: Rs. 5,000
- Duty and clearing charges: Rs. 24,000
- Wages: Rs. 24,000
Let's go through the steps to calculate the gross profit:
Step 1: Calculate Net Purchases
Net Purchases = Cash purchases + Credit purchases - Return to suppliers
= Rs. 36,800 + Rs. 82,400 - Rs. 6,400
= Rs. 112,800
Step 2: Calculate Net Sales
Net Sales = Cash sales + Credit sales - Return from customers
= Rs. 116,000 + Rs. 5,600 - Rs. 6,000
= Rs. 115,600
Step 3: Calculate Total Expenses
Total Expenses = Carriage and Freight + Duty and clearing charges + Wages
= Rs. 5,000 + Rs. 24,000 + Rs. 24,000
= Rs. 53,000
Step 4: Prepare Trading Account
Once we have the net purchases, net sales, total expenses, and the values of opening and closing stock, we can calculate the Gross Profit as such:
Gross Profit = (Net Sales) - (Net Purchases + Opening Stock + Total Expenses) + Closing Stock
Substituting the calculated figures:
Gross Profit = Rs. 115,600 - (Rs. 112,800 + Rs. 25,000 + Rs. 53,000) + Rs. 47,600
= Rs. 115,600 - Rs. 190,800 + Rs. 47,600
= Rs. 115,600 - Rs. 143,200
= Rs. 36,400
Correctly, as given in the question, the Gross Profit that we have calculated for Bimal Das for the year ending 31st March, 2022 is Rs. 36,400.
