A firm purchased goods of Rs. $90, 000$ and spend Rs. $6, 000$ on freight towards it. At the end of the year the cost of good still unsold was Rs. $12, 000$ . Sales during the year Rs. $1, 20, 000$ . What is the gross profit earned by the firm?

Rs.

36000

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Rs.

18, 000

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Rs.

42, 000

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Rs.

38, 000

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Solution

The correct option is A Rs. $36000$
Gross Profit = Sales + closing stock - ( purchases + direct expenses)
= 1,20,000 + 12,000 - ( 90,000 + 6,000)
= 1,32,000 - 96,000
= 36,000

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Similar questions

Q. Opening Stock Rs. 90,000, Cash Sales Rs. 36,000, Credit Sales Rs. 7,20,000, Returns outwards Rs. 6,000. Wages & Salaries Rs. 2,400 Carriage Inwards Rs. 1,200. Freight Inwards Rs. 1,800, Cartage Inwards Rs. 600, Cash Purchases Rs. 30,000, Credit Purchases 6,00,000, Returns Inward Rs. 12,000, Cost of closing Stock as on 31st March Rs. 54,000 but its market value is Rs. 50,400, Freight outwards Rs. 600. The Gross Profit for the year is _____________.

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Q. Adjusted Purchases Rs. 6,63,600, Sales Rs. 7,44,000, Closing Stock Rs. 50,400, Freight & Cartage Inward Rs. 3,600, Wages Rs. 2,400, Freight & Cartage outward Rs. 1.800 Opening stock 48,600. calculate gross profit for the year end ____________.

Q. If sales are

R s . 40, 000

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and operating expenses are

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A firm purchased goods of Rs. 90,000 and spend Rs. 6,000 on freight towards it. At the end of the year the cost of good still unsold was Rs. 12,000. Sales during the year Rs. 1,20,000. What is the gross profit earned by the firm?

The correct option is A Rs. 36000Gross Profit = Sales + closing stock - ( purchases + direct expenses) = 1,20,000 + 12,000 - ( 90,000 + 6,000) = 1,32,000 - 96,000 = 36,000

A firm purchased goods of Rs. $90, 000$ and spend Rs. $6, 000$ on freight towards it. At the end of the year the cost of good still unsold was Rs. $12, 000$ . Sales during the year Rs. $1, 20, 000$ . What is the gross profit earned by the firm?

The correct option is A Rs. $36000$
Gross Profit = Sales + closing stock - ( purchases + direct expenses)
= 1,20,000 + 12,000 - ( 90,000 + 6,000)
= 1,32,000 - 96,000
= 36,000