Interested to Buy Any Domain ? << Click Here >> for more details...
A new firm commenced business on 1st January, 2006 and
purchased goods costing
Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on
freight inwards. At the
end of the year the cost of goods still unsold was Rs.
12,000. Sales during the year Rs.
1,20,000. What is the gross profit earned by the firm?
(a) Rs. 36,000
(b) Rs. 30,000
(c) Rs. 42,000
(d) Rs. 38,000
- 2 Answers
- 12411 Views
- IMT, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / guest
The Gross Profit will be arrived by using the following method
in Government Departments.
Opening stock as on 1.1.2006 Rs. 90000.00
Freight charges paid Rs. 6000.00
Total Purchase Cost Rs. 96000.00
Less Closing Stock Rs. 12000.00
Net Purchase value Rs. 84000.00
Sales Value Rs.120000.00
Gross profit Rs. 36000.00
Percentage of Gross Profit 42.857 %
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Cell: 9994990599
| Is This Answer Correct ? | 5 Yes | 0 No |
who is invented to accounting
What do you mean by balancing of ledger account?
What else ? This is the question asked to me every where every time while facing interview. I want to know is this a real question for accounting? If yes haw or if no How? I am really confuse.
WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428325.45 VAT @12.5%= 53540.68 Additional vat 1%= 4283.25 ORDER DISCOUNT = (9722.99) ROUNDED OFF = 0.39 -------------------------- NET AMOUNT = 476426.00
X, PURCHASE HOUSE PROPERTY IN 2005, RS 400000,AND SALE IT IN2010, RS 1800000,IF X HANDICAP, AND IN 2008 MADE SENIOR CITIZON, HOW CALCULATE IT?
Explain the Steps to Define Expenses Report
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
general entry for credit purchases, credit sales, golden rules of accounting,what is contribution.
Dear Sir I had already export to dubai. now I am to know that can I enter this sale entry in RG1. pls guide me.
What is Sweep Account?
Who is considered the father of accounting?
how will decide that vender payment is ok without reco
Audit 
