Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount RO 1675 Bank charges RO1654 Closing stock RO 11870 Cash RO 3200 Other Income RO 765 Owners Equity RO 76000 Building RO 32000 Depreciation RO 1230 Salaries RO 3450 Electricity RO 780 Sales Discount RO 6230 Freight in RO 1450 Sales returns is RO 4350 Opening stock is RO 7680 Purchases RO 16550 Machinery RO 21000 Purchase return RO 1240

Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount RO 1675 Bank charges RO1654 Closing stock RO 11870 Cash RO 3200 Other Income RO 765 Owners Equity RO 76000 Building RO 32000 Depreciation RO 1230 Salaries RO 3450 Electricity RO 780 Sales Discount RO 6230 Freight in RO 1450 Sales returns is RO 4350 Opening stock is RO 7680 Purchases RO 16550 Machinery RO 21000 Purchase return RO 1240

Name: Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit fromthe following informationGross salesRO 53400Purchase Discount RO 1675Bank charges RO1654Closing stock RO 11870Cash RO 3200Other Income RO 765Owners Equity RO 76000Build

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please answer it completely Thanks tutor.
please provide correct answer with all work
36 )
Fay Company reported the following transactions: . • Bought $115 of inventory • Sold $60 of inventory for $190 cash • Sold $55 of inventory for $100 on credit • Received a $50 prepayment Enter your answer What effect do these transactions have on Net Income? $ such that increases in net income are positive and decreases in net income are negative.
Question attached in screenshot below need help asap thanks aprpeciated i51oiyji1o5j1io5yj51oijygmi lo1 51
PLEASE ANSWER THE NEEDED QUESTIONS BELOW
400 2 From the following information, calculate the value of purchases. Opening payables Cash paid Discounts received Goods returned Closing payables 142,600 542,300 13,200 27,500 137,800 ques Med $302,600 B $506,400 $523,200 $578,200 C
3
K Which of the following is true of net sales revenue? OA It is calculated by adding sales discounts and sales retums and allowances to sales OB. It is calculated by deducting sales discounts and sales retums and allowances from sales OC. It is calculated by adding sales discounts to sales OD. It is calculated by subtracting cost of goods sold from sales MacBook Pro
Don't give answer in image format
Make an 'Income Statement', information indicated in the photo
Aseela trading Co. reported the following figures in their books of accounts. Sales of OMR 40000, Carriage inwards of OMR 3000, Sales Discount of OMR 5000 and sales return of OMR 4000. Calculate net sales? a.OMR 35000 b.OMR 28000 c.OMR 36000 d.OMR 31000