Question

from the following balances takes from the book of simmi and vinsent for the year ending March 31 2017 calculate the gross profit closing stock 250000 net sales during the year 4000000 net purchase during the year 1500000​

Answer 1

Answer:

The gross profit is Rs 11,70,000.

Explanation:

Given:

Closing stock Rs 2,50,000.

Net sales during the year Rs 40,00,000.

Net purchases during the year Rs 15,00,000.

Opening stock Rs 15,00,000.

Direct expenses Rs 80,000.

Now, to find the gross profit:

So, to get the gross profit we put formula:

Gross profit = (Closing stock + Net sales) - (Net purchases + opening stock + direct expenses)

Gross\ profit=(2,50,000+40,00,000)-(15,00,000+15,00,000+80,000)Gross profit

=(2,50,000+40,00,000)−(15,00,000+15,00,000+80,000)

Gross\ profit=42,50,000-30,80,000Gross profit=42,50,000−30,80,000

Gross\ profit=11,70,000.Gross profit=11,70,000.

Therefore, the gross profit is Rs 11,70,000.

Answer 2

1177000

I hope it's helpful for you