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where do you consider salary in an income statement?
whether it is to be taken before gross profit or after net
profit? answer with reasons.
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Answer / girija
The salary income should appear after the gross profit
only. The expenses before GP are only the manufacturing
cost or cost related to sales.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / srinivas annavarapu
Salary will come under expenditure and will be debited to
P&L account after gross profit to arrive at net profit.
The reason is Salary is an administrative expenditure hence
it is to be taken after GP and before NP.
| Is This Answer Correct ? | 5 Yes | 0 No |
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