Question

CAL ₹ 5. Ascertain Gross Profit from the following information: ₹ Opening Stock 2,00,000 Carriage on Sales Closing Stock 1,80,000 Office Rent Purchases 8,50,000 Sales Carriage on Purchases 23,000 30,000 58,000 14,07,000 [Gross Profit – 5,14,000. )​

Answer 1

Answer:

For ascertaining the Gross Profit

Calculate the total Direct expenses:-

opening stock + purchase + carriage + office rent

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

similarly to Total direct income:

sales + carriage + closing stock

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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