Question
Calculate the gross profit /loss if:
Sales Rs. 90,000; Closing stock Rs. 40,000; Opening stock Rs. 40,000; Purchases Rs.40,000; Wages Rs. 20,000.
Sales Rs. 90,000; Closing stock Rs. 40,000; Opening stock Rs. 40,000; Purchases Rs.40,000; Wages Rs. 20,000.
Answer: Option B
:
B
Gross Profit
=Sales + Closing stock - Opening stock - Purchases - Wages
= Rs. 90,000 + Rs. 40,000 - Rs. 40,000 - Rs. 40,000 - Rs. 20,000
= Rs. 30,000
Was this answer helpful ?
:
B
Gross Profit
=Sales + Closing stock - Opening stock - Purchases - Wages
= Rs. 90,000 + Rs. 40,000 - Rs. 40,000 - Rs. 40,000 - Rs. 20,000
= Rs. 30,000
Was this answer helpful ?
More Questions on This Topic :
Question 1. Gross profit less expenses is known as:....
Question 3. Gross profit is calculated as:....
Question 7. Prepaid expense is treated as ______....
Question 9. The trading account does not:....
Question 10. Profit and Loss account is based on:....
Latest Videos
Latest Test Papers
Submit Solution