Calculate the gross profit /loss if:

Sales Rs. 60,000; Closing stock Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs. 40,000; Wages Rs. 20,000.

Loss of Rs. 10,000

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Profit of Rs. 20,000

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Loss of Rs. 20,000

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Profit of Rs. 40,000

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Solution

The correct option is D
Profit of Rs. 40,000

Gross Profit
= (Sales + Closing stock) - (Opening stock + Purchases + Wages)

= (Rs. 60,000 + Rs. 50,000) - (Rs. 10,000 + Rs. 40,000 + Rs. 20,000)

= Rs. 40,000

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Calculate the gross profit /loss if: Sales Rs. 60,000; Closing stock Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs. 40,000; Wages Rs. 20,000.

The correct option is D Profit of Rs. 40,000 Gross Profit = (Sales + Closing stock) - (Opening stock + Purchases + Wages) = (Rs. 60,000 + Rs. 50,000) - (Rs. 10,000 + Rs. 40,000 + Rs. 20,000) = Rs. 40,000

Calculate the gross profit /loss if:

Sales Rs. 60,000; Closing stock Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs. 40,000; Wages Rs. 20,000.

The correct option is D
Profit of Rs. 40,000

Gross Profit
= (Sales + Closing stock) - (Opening stock + Purchases + Wages)

= (Rs. 60,000 + Rs. 50,000) - (Rs. 10,000 + Rs. 40,000 + Rs. 20,000)

= Rs. 40,000