Question

if the total gross profit of the financial year is rs 108000 and the sales ratio of pre-death and post-death period is 1:1 then the gross profit transferred to post retirement columns of profit and loss account is RS ..... options..a) 54000 b) 10800 c) 5400 d) 108000​

Answer 1

Answer:

Total gross profit = 1,08,000

Sales ratio = 1:1 = 1/2 : 1/2

Then gross salary transfer to profit and loss account is 1,08,000 × 1/2 = 54,000.

So, correct answer is a. 54,000.

Answer 2

Answer:

Now gross salary transfer to profit and loss account is 54000.

So, option a is correct answer.

Explanation:

Given total gross profit is 108000.

and ratio of sales of pre-death and post-death period is 1:1.

$1:1 = \frac{1}{2}: \frac{1}{2}$

We know,

$Gross \: Profit = Revenue \: – \: Cost \: of \: Goods \: Sold.$

And,

$Net \: Sales = Gross \: Sales – Returns \: – \: Allowances \: – \: Discounts$

Now gross salary transfer to profit and loss account is

$108000 \times \frac{1}{2} = 54000$

Required answer is Rs 54000.