Question

3.Find out Gross profit /Gross Loss purchases ₹ 30,000, sales ₹ 15000, carriage inward ₹ 2400 opening stock ₹ 10,000, purchase returns ₹ 1000, closing stock ₹ 36000

Answer 1

Explanation:

dr of trading Account

opening stock + purchase - purchase return + carriage inward

10000+30000-1000+2400

42400-1000

41400

cr side of trading Account

sales + closing stock

15000 + 36000

51000

cr side is greater means gross profit

51000-41400

9600

so

Gross Profit = 9600