Question

calculate the amount of sales when purchase amiunt is 600000 ,gross profit is 130000 and net profit 40000​

Answer 1

The answer is 730000

Answer 2

Amount of sales is Rs.7,30,000.

Given:

Purchase 6,00,000

Gross profit 1,30,000

Net profit 40,000

To find:

Amount of sales

Solution:

A sale is a deal in which two or more parties exchange goods or services for cash or other assets.

We can find sales by using Purchase and Gross profit

Sales = Purchase + Gross Profit

Substituting the values given in the formula, we get,

Sales = 6,00,000 + 1,30,000

Sales = 7,30,000

We can also prepare Trading account to find the value of sales.

Particulars                         Amount          Particulars                         Amount

To Purchases                   6,00,000         By Sales                        

To Gross Profit                 1,30,000         (Balancing figure)            7,30,000

                                         7,30,000                                                  7,30,000

Therefore, value of sales if Rs.7,30,000

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