Accountancy, asked by enochedili, 7 months ago

The following balance were from the books of Mrs. Andy Odia on the 31st December, 2016: Stock 1/1/2016 3,330 Stock 31/12/2016 1,660 Sales 50,600 Insurance premium 400 Electricity bill 1,200 Salaries 3,400 Transport expenses 1,000 Return outward 5,000 Purchases 32,400 You are required to prepare a trading, profit and loss account of the business for the year ended 31st December, 2016.

Answers

Answered by mahendranathk
1

Answer:Gross profit-Rs.11,530/-

Net profit- Rs. 5,530/-

Explanation:

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