Question

X withdrew the goods for the marriage of his daughter ,Nalini,selling price of which was really. 800 (25 % is added to the cost for fixing the selling price) .
pass journal entry. If you don't know, then don't answer me . please it is urgent. It is commerce question.​

Answer 1

Answer:

This can be simply calculated as :

Cost + Gross Profit=Sales

Assuming the cost is 100, than gross profit becomes 25

Hence

100+25= Sales i.e. 200000

therefore

200000/125*25= Rs.40000/-

Gross profit will be Rs.40000