Calculate Gross Profit from the following information:

₹

Closing Stock 70,000

Wages 40,000

Salary 30,000

Sales 6,88,000

Adjusted Purchase 5,50,000

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Solution

Financial Statement of….

Trading Account

for the year ended …

Dr.

Cr.

Particulars

Amount

(Rs)

Particulars

Amount

(Rs)

Adjusted Purchase

5,50,000

Sales

6,88,000

Wages

40,000

Gross Profit (Balancing Figure)

98,000

6,88,000

6,88,000

Note:

As adjusted purchases is given, it means opening and closing stock are already adjusted. So, these two stocks will not be considered while calculating Gross Profit.

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	₹		₹
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	Rs
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	₹
Closing Stock	70,000
Wages	40,000
Salary	30,000
Sales	6,88,000
Adjusted Purchase	5,50,000

Financial Statement of….
Trading Account for the year ended …
Dr.				Cr.
Particulars	Amount (Rs)	Particulars	Amount (Rs)
Adjusted Purchase	5,50,000	Sales	6,88,000
Wages	40,000
Gross Profit (Balancing Figure)	98,000
	6,88,000		6,88,000

Calculate Gross Profit from the following information: ₹ Closing Stock 70,000 Wages 40,000 Salary 30,000 Sales 6,88,000 Adjusted Purchase 5,50,000

Calculate Gross Profit from the following information:

₹

Closing Stock 70,000

Wages 40,000

Salary 30,000

Sales 6,88,000

Adjusted Purchase 5,50,000