Question

calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the Books of M/s XYZ for the year ended march 31, 2009. Opening stock. 50,000 Net sales. 1,00,000. Net purchases. 6,00,000. Direct expenses. 60,000. Administration expenses. 45,000 Selling expenses. 65,000 Loss due to fire. 20,000 . Closing stock. 70,000.
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Answer 1

Answer:

actually I am a 12th std student and totally forget about Trading & P/L a/c.....so if this is wrong just ignore...