Ascertain gross profit from the following figures.
Rs.
Opening stock $5, 570$
Purchase $13, 816$
Sales $15, 248$
Purchase returns $390$
Returns inward $524$
Wages paid $1400$
Import charges $250$
Closing stock $8, 880$

R s . 2, 958

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R s . 4, 358

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R s . 3, 816

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R s . 4, 202

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Solution

The correct option is C $R s . 2, 958$
Trading Account

Particulars Amount Particulars Amount
To Opening Stock 5570 By Sales 15248
To Purchases 13816 By Closing Stock 8880
Less: Pur Return 390 13426
To Return Inwards 524

To Wages Paid 1400
To Import Charges 250
To Gross Profit 2958

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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.

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Q. From the given information, find the correct amount of purchases.

Cost of goods sold	$R s . 1, 20, 000$
Carriage inwards	$R s . 1, 890$
Opening stock	$R s . 43, 640$
Closing stock	$R s . 38, 500$
Purchase returns	$R s . 2, 150$
Sales	$R s . 2, 82, 650$

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Q. Opening Stock Rs. 1,00,000, Sales Rs. 5,00,000, Gross profit @ 25% on cost, Purchase Rs. 6,00,000. Closing Stock is ___________.

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	Rs.
Opening stock	$5, 570$
Purchase	$13, 816$
Sales	$15, 248$
Purchase returns	$390$
Returns inward	$524$
Wages paid	$1400$
Import charges	$250$
Closing stock	$8, 880$

Particulars	Amount	Particulars	Amount
To Opening Stock	5570	By Sales	15248
To Purchases 13816		By Closing Stock	8880
Less: Pur Return 390	13426
To Return Inwards	524
To Wages Paid	1400
To Import Charges	250
To Gross Profit	2958

Ascertain gross profit from the following figures.Rs.Opening stock5,570Purchase13,816Sales15,248Purchase returns390Returns inward524Wages paid1400Import charges250Closing stock8,880

The correct option is C Rs.2,958 Trading Account Particulars AmountParticulars Amount To Opening Stock 5570 By Sales 15248 To Purchases 13816 By Closing Stock 8880 Less: Pur Return 390 13426 To Return Inwards 524 To Wages Paid 1400 To Import Charges 250 To Gross Profit 2958

Ascertain gross profit from the following figures.
Rs.
Opening stock $5, 570$
Purchase $13, 816$
Sales $15, 248$
Purchase returns $390$
Returns inward $524$
Wages paid $1400$
Import charges $250$
Closing stock $8, 880$

The correct option is C $R s . 2, 958$
Trading Account

Particulars Amount Particulars Amount
To Opening Stock 5570 By Sales 15248
To Purchases 13816 By Closing Stock 8880
Less: Pur Return 390 13426
To Return Inwards 524

To Wages Paid 1400
To Import Charges 250
To Gross Profit 2958