Trial Balance for the financial year (FY) ended 31st March 2022 of M/s Deepakshi shows following details: Particulars Debit (`) Credit (`) Purchase & Sales 10,00,000 12,00,000 Debtors & Creditors 5,00,000 4,00,000 Opening Stock 2,00,000 Closing Stock 3,00,000 Other Expenses & Incomes 7,00,000 9,00,000 Fixed Assets & Long Term Liabilities 25,00,000 6,00,000 Capital 21,00,000 52,00,000 52,00,000 Additional Information: Creditors balance as on 1st April, 2021 is ` 3,00,000. 

You are required to calculate cost of goods sold and amount paid to creditors during the year. 

Answer rating: 100% (QA)

To calculate the cost of goods sold COGS and the amount paid to creditors during the yea... View the full answer