Company XYZ has the following data for a quarter: -Credit sales at catalogue prices including taxes and duties = Rs 40,000. -Trade discounts = Rs10,000. -Cash sales = Rs 9,000. - Sales returns and allowances = 2,000. - Sales discounts = Rs 1,000. - Value added tax/Goods and services tax= Rs 4,000. The amount of sales that would appear on the statement of profit and loss for the period O a. Rs 36,000. O b. Rs 32,000. C. Rs 39,000. Od. Rs 37,000.

Company XYZ has the following data for a quarter: -Credit sales at catalogue prices including taxes and duties = Rs 40,000. -Trade discounts = Rs10,000. -Cash sales = Rs 9,000. - Sales returns and allowances = 2,000. - Sales discounts = Rs 1,000. - Value added tax/Goods and services tax= Rs 4,000. The amount of sales that would appear on the statement of profit and loss for the period O a. Rs 36,000. O b. Rs 32,000. C. Rs 39,000. Od. Rs 37,000.

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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