Sole Trader Final Account Formats: Trading Account Format (Copy)
Trading Account Format
Standard Trading Account Layout (Exam-Preferred)
Trading Account For The Year Ended ………
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Opening Inventory | xxxx | Sales | xxxx |
| Purchases | xxxx | Less: Sales Returns | (xxxx) |
| Less: Purchases Returns | (xxxx) | Net Sales | xxxx |
| Carriage Inwards | xxxx | Closing Inventory | xxxx |
| Cost Of Goods Available For Sale | xxxx | ||
| Less: Closing Inventory | (xxxx) | ||
| Cost Of Sales | xxxx | ||
| Gross Profit c/d | xxxx | ||
| Gross Profit b/d | xxxx |
- Trading Account Calculates Gross Profit Or Gross Loss
- Only Direct Costs Included
- Closing Inventory Appears On Credit Side
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Trading Account Showing Gross Loss (Format)
Trading Account For The Year Ended ………
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Opening Inventory | xxxx | Sales | xxxx |
| Purchases | xxxx | Less: Sales Returns | (xxxx) |
| Less: Purchases Returns | (xxxx) | Net Sales | xxxx |
| Carriage Inwards | xxxx | Closing Inventory | xxxx |
| Cost Of Sales | xxxx | ||
| Gross Loss c/d | xxxx | ||
| Gross Loss b/d | xxxx |
- Gross Loss Appears On Credit Side
- Brought Down To Income Statement
Trading Account Without Returns Shown Separately (Accepted)
Trading Account For The Year Ended ………
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Opening Inventory | xxxx | Net Sales | xxxx |
| Net Purchases | xxxx | Closing Inventory | xxxx |
| Carriage Inwards | xxxx | ||
| Cost Of Sales | xxxx | ||
| Gross Profit c/d | xxxx |
- Net Figures Allowed If Clearly Stated
- Must Be Consistent
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Trading Account With Working For Cost Of Sales
Cost Of Sales Working
| Details | Amount |
|---|---|
| Opening Inventory | xxxx |
| Add: Purchases | xxxx |
| Less: Purchases Returns | (xxxx) |
| Add: Carriage Inwards | xxxx |
| Cost Of Goods Available For Sale | xxxx |
| Less: Closing Inventory | (xxxx) |
| Cost Of Sales | xxxx |
- Working May Be Shown Separately
- Final Cost Of Sales Transferred To Trading Account
Trading Account Without Table (Accepted In Short Questions)
Trading Account For The Year Ended ………
- Sales …………… xxxx
- Less: Cost Of Sales …………… xxxx
- Gross Profit …………… xxxx
- Clear Labelling Required
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Presentation Rules For Trading Account (Exam Scoring)
- Heading Must Include “Trading Account”
- Period Must Be Stated
- Only Direct Costs Included
- Closing Inventory Shown On Credit Side
- Gross Profit Or Loss Clearly Labelled
Common Items Included In Trading Account
- Opening Inventory
- Purchases
- Purchases Returns
- Carriage Inwards
- Sales
- Sales Returns
- Closing Inventory
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Compact Trading Account Template (Emergency)
Trading Account
Sales xxxx
Less: Cost Of Sales xxxx
Gross Profit xxxx
One-Glance Exam Template
Trading Account
Direct Costs Only
Gross Profit Or Loss Calculated