Question

Calculate the Gross Profit/ Gross Loss :- Purchase A/C Rs. 15,500, Sales A/C Rs.30,000 , Carriage inward Rs. 1,200, Opening stock Rs, 5,000 Purchase Return Rs. 500, Closing stock Rs. 18,000.

Answer 1

Explanation:

os +(purchase -purchase return) +carriage inward -sales -closing stock

5000 + 15000 + 1200 - 30000- 18000

= -26800

gross profit =26800