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 ____________.

Rs. 76,200

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Rs. 74,400

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Rs. 1,24,800

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Solution

The correct option is B Rs. 74,400
Net sales 7,44,000
Add: Closing stock 50,400
----------------
7,94,400
Less: Opening stock (48,600)
Purchases ( 30,000 + 6,00,000 - 6,000) (6,63,600)
Direct expenses (1,200 + 2,400 + 1,800 + 600) (7,800)
------------------
74,400
------------------

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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. Cost of Goods Sold Rs. 6,69,000, Sales Rs. 7,44,000, Closing Stock Rs. 50,400. Gross Profit for the year is _____________.

Calculate closing stock and cost of goods sold. Opening stock Rs. 5,000 ; sales Rs. 16,000; carriage inwards Rs. 1,000, sales return Rs. 1,000; gross profit Rs. 6,000; purchases Rs. 10,000; purchases return Rs. 900.

Q. Trial balance of a trader shows the following balances:
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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 ____________.

The correct option is B Rs. 74,400 Net sales 7,44,000Add: Closing stock 50,400 ---------------- 7,94,400Less: Opening stock (48,600) Purchases ( 30,000 + 6,00,000 - 6,000) (6,63,600) Direct expenses (1,200 + 2,400 + 1,800 + 600) (7,800) ------------------ 74,400 ------------------

The correct option is B Rs. 74,400
Net sales 7,44,000
Add: Closing stock 50,400
----------------
7,94,400
Less: Opening stock (48,600)
Purchases ( 30,000 + 6,00,000 - 6,000) (6,63,600)
Direct expenses (1,200 + 2,400 + 1,800 + 600) (7,800)
------------------
74,400
------------------