calculate merchandise cost, gross profit and net income from the following information. purchases (3000) articles) =₹25000 freight ₹1500 local taxes ₹ 1000 salaries ₹2500 shop rent ₹500 go down rent ₹500 electric charges ₹600 municipal taxes ₹200 stationery ₹250 furniture (estimated life 5 years) ₹12000 sales (2700 articles) ₹ 32000 find solution sum number-8
jo bhi mujhe ans da ga usa ma follow and likesssss du gi please ans me but kise na galti ans nahi da na plz
please
Answers
Answer:
Correct option is
C
Rs. 3,00,000
Closing stock = (Opening stock + purchases + gross profit) - sales
= (1,00,000 + 6,00,000 + 1,00,000)- 5,00,000
= 8,20,000 - 5,00,000
= 3,00,000
Working note:- Calculation of gross profit
(Gross profit is 25% of cost because we don't have cost we will calculate it with the help of sales)
If cost is 100 gross profit is 25% of cost then sale will be Gross profit + cost
Hence 100 +25 = 125
therefore,
gross profit = 25/125 x 5,00,000
= 1,00,00
Explanation:
Hopes it is helpful
Please give me some thanks❤
And became my friend
Answer:
Correct option is
C
Rs. 3,00,000
Closing stock = (Opening stock + purchases + gross profit) - sales
= (1,00,000 + 6,00,000 + 1,00,000)- 5,00,000
= 8,20,000 - 5,00,000
= 3,00,000
Working note:- Calculation of gross profit
(Gross profit is 25% of cost because we don't have cost we will calculate it with the help of sales)
If cost is 100 gross profit is 25% of cost then sale will be Gross profit + cost
Hence 100 +25 = 125
therefore,
gross profit = 25/125 x 5,00,000
= 1,00,000
Explanation:
this may help u..pls follow Nd like