Ameen trading company is a popular distributor in the Nizwa region having years of experience in the field of logistics and marketing. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic – crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin. Particular OMR Particular OMR To Opening Stock Purchases 76,250 By Sales 3,15,250 Closing stock 5,00,000 98,500 Carriage and Freight Wages Gross Profit b/d 2,000 5,000 2,00,000 5,98,500 1,01,000 By Gross Profit b/d 12,000 Non-operating incomes: 2,000 "Interest on Securities 7,000 Dividend on shares 84,000 " Profit on sale of shares 2,06,000 5,98,500 2,00,000 Administration expenses "Selling and Dist. expenses Non-operating expenses "Financial Expenses Net Profit c/d 1,500 3,750 750 2,06,000

Ameen trading company is a popular distributor in the Nizwa region having years of experience in the field of logistics and marketing. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic – crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin. Particular OMR Particular OMR To Opening Stock Purchases 76,250 By Sales 3,15,250 Closing stock 5,00,000 98,500 Carriage and Freight Wages Gross Profit b/d 2,000 5,000 2,00,000 5,98,500 1,01,000 By Gross Profit b/d 12,000 Non-operating incomes: 2,000 "Interest on Securities 7,000 Dividend on shares 84,000 " Profit on sale of shares 2,06,000 5,98,500 2,00,000 Administration expenses "Selling and Dist. expenses Non-operating expenses "Financial Expenses Net Profit c/d 1,500 3,750 750 2,06,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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