Accountancy, asked by vimlasinghvi16, 9 months ago

22. Find out Gross Profit or Gross Loss:
Purchases - Rs.60000, Sales - Rs. 30000, Carriage inward -
Rs.4800, Opening stock - Rs.20000, Return Outward -
Rs.2000, Closing Stock - Rs.72000.
(1 Point)
a) Gross Profit Rs. 19200
b) Gross Loss Rs. 19200
c) Gross Profit Rs. 9600
d) Gross Loss Rs. 9600​

Answers

Answered by Anonymous
40

Answer:

Gross Profit = Rs. 19200

Solution :

Purchases = 60000 - 2000

cost of goods sold = 20000 + 58,000 + 4800 - 72000

➨ 10,800

➨ Cost of Goods Sold = 10,800

Gross profit = sales - cost of goods sold

➨ 30000 - 10800

Gross profit = 19,200

.°.

Gross Profit = Rs. 19200

Answered by sarahssynergy
1

GROSS LOSS Rs. 19200

Explanation:

1. Gross Profit = Opening stock + Purchases + Carriage Inward - Sales - Closing Stock - Carriage Outward.

2. Gross Profit = 20,000 + 60,000 + 4,800 - 30,000 - 72,000 - 2,000

3. Gross Profit = -19,200

4. Therefore, Gross Loss = 19,200

NOTE: PROFIT IN NEGATIVE SIGN IS CONSIDERED AS LOSS.

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