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
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
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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