Calculate the amount of gross profit on the basis of the following balances extracted from the books of Edward and Co. for the year ended March 31, 2022. Advertisements (₹) Opening Stock 50,000 Net sales 11,00,000 Net purchases 6,00,000 Direct expenses 60,000 Administration expenses 45,000 Selling and distribution expenses 65,000 Loss due to fire 20,000 Closing stock 70,000
Calculate the amount of gross profit on the basis of the following balances extracted from the books of Edward and Co. for the year ended March 31, 2022. Advertisements (₹) Opening Stock 50,000 Net sales 11,00,000 Net purchases 6,00,000 Direct expenses 60,000 Administration expenses 45,000 Selling and distribution expenses 65,000 Loss due to fire 20,000 Closing stock 70,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the amount of gross profit on the basis of the following balances extracted from the books of Edward and Co. for the year ended March 31, 2022.
Advertisements
(₹)
Opening Stock
50,000
Net sales
11,00,000
Net purchases
6,00,000
Direct expenses
60,000
Administration expenses
45,000
Selling and distribution expenses
65,000
Loss due to fire
20,000
Closing stock
70,000
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