A Gross Profit Rs 15,000, Carriage Inwards Rs 4,000, Rent Rs 4,500, Drawings Rs 6,000, Freight
Outward Rs 5,000, Repairs & Maintenance Rs 4,800, Manufacturing Wages Rs 5,000, Bad Debts
Recovered Rs 3,000. What is the amount of net profit/loss?
Answers
The amount of net profit/loss is Rs. 3,700
Explanation:
The calculation of the amount of net profit/loss is given below:
= Gross profit + bad debts recovered - rent expense - freight outward - repair & maintenance expenses
= Rs. 15,000 + Rs. 3,000 - Rs. 4,500 - Rs 5,000 - Rs. 4,800
= Rs. 3,700
The other things are already included in the estimation of the Gross profit. So, skipped it
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The profit and loss account shows:
a) Financial position of the concern
b) Gross profit
c) Net profit
d) Net profit and financial position
https://brainly.in/question/264251
A shopkeeper had profit of ₹156 on Monday, a loss of ₹ 78 on Tuesday and a profit of ₹31 on Wednesday. Find the net profit or loss in these three days.
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Net profit = Rs.3,70
Explanation:
Given:
Gross Profit Rs 15,000
Carriage Inwards Rs 4,000
Rent Rs 4,500
Drawings Rs 6,000
Freight Outward Rs 5,000
Repairs & Maintenance Rs 4,800
Manufacturing Wages Rs 5,000
Bad Debts Recovered Rs 3,000.
Computation:
Net profit = [Gross profit + Bad debts recovered] - [Rent + Freight outward + Repair expenses]
Net profit = [15,000 + 3,000] - [4,500 + 5,000 + 4,800]
Net profit = 18,000 - 14,300
Net profit = 3,700
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