Question

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?

Answer 1

Answer:

Dr side rent, freight, repair,= 14300

Cr side gross profit, bed debt = 18000

Net profit = 3700

Answer 2

The amount of net profit/loss is Rs. 3,700

Explanation:

The computation of the amount of net profit/loss  is shown below:

= Gross profit + bad debts recovered - rent expense - freight outward - repair expenses

= Rs. 15,000 + Rs. 3,000 - Rs. 4,500 - Rs 5,000 - Rs. 4,800

= Rs. 3,700

The other items is already adjusted in the Gross profit calculation. Hence, ignored it

Learn more

When does profit and loss account show net profit ?​

https://brainly.in/question/14430960

The profit and loss account shows:

a) Financial position of the concern

b) Gross profit

c) Net profit

d) Net profit and financial position

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