Question

ascertain gross profit from the following opening stock 200000 closing stock 180000 purchase 850000​ carriage on purchase is 23000 carriage on sale is 30000 office rent 58000 Sales 1407000

Answer 1

Answer:

For ascertaining the Gross Profit

Calculate the total Direct expenses:-

opening stock + purchase + carriage + office rent

i.e

200,000+850,000+23,000+58,000 =₹11,31,000

similarly to Total direct income:

sales + carriage + closing stock

i.e

14,07,000+30,000+180,000=₹16,17,000

Gross profit = ₹16,17,000-₹11,31,000

Gross profit = ₹4,86,000

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Answer 2

GIVEN :-

Opening stock = 2,00,000.

Carriage on sales = 30,000.

Closing Stock = 1,80,000.

Office rent = 58,000.

Purchases = 8,50,000.

Sales = 14,07,000.

Carriage on Purchases = 23,000.

Now, to find the Gross Profit.

So, we put formula to get the Gross Profit:

Gross Profit = (Closing Stock + Sales) - (Opening stock + Purchases + Carriage on Purchases)

Gross profit = (180000+1407000) - (200000+850000+23000)

Gross profit = (180000+1407000)−(200000+850000+23000)

Gross Profit = 1587000-1073000

Gross Profit = 1587000−1073000

Gross Profit = 514000.

Gross profit=514000.

Therefore, the Gross Profit is ₹ 5,14,000.