From the following ledger balances of XYZ company prepare trading account for the year ended $31\mathrm{.}12\mathrm{.}2020$

particulars Amount in$.$ Rs$.$

opening stock $60000$

purchases $800000$

Freight on purchases $10000$

wages $50000$

sales $1500000$

purchase returns $20000$

sales returns $100000$

import duty $15000$

closing stock $200000$

Answer rating: 100% (QA)

Lets prepare the trading account of XYZ company for the year ended 31122020 using the ledger balance... View the full answer