From the below mentioned details- find the amount of net profit- lbegin array -c- c - WhineParticulars - Non-core income - 8-000 Whlinelendarray A- 40-000B- 35-000C- 60-000D- 20-000

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Standard XI

Accountancy

Trading & Profit or Loss Account

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Question

From the below mentioned details, find the amount of net profit:

$\begin{matrix} Particulars & Amount Gross profit & 52, 000 Non-core expenses & 25, 000 Non-core income & 8, 000 \end{matrix}$

40,000

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35,000

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60,000

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20,000

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Solution

The correct option is B
35,000

Net profit = Gross profit + Non-core incomes - Non-core expenses

= 52,000+8,000-25,000

= 35,000

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Similar questions

Q. If Gross profit is Rs. 52,000, Non-core expenses is Rs. 25,000, Non-Core income is Rs. 8,000, then the amount of net profit is

$\begin{matrix} STATEMENT OF PROFIT AND LOSS f o r t h e y e a r e n d e d 31 s t M a r c h, 2018 \end{matrix} \begin{matrix} Particulars & Note & Rs. No. I. & Revenue from Operations (Sales) & 8, 00, 000 II. & Other Income & 25, 000 III. & Total Revenue (I + II) & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 8, 25, 000 - -------- - IV & Expenses : Puchase of Stock in Trade & 5, 40, 000 Change in Inventories of Stock in Trade & 1 & 20, 000 Employee Benefit Expenses & 90, 000 Depreciation and Amortization Exp. & 15, 000 Other Exp. & 10, 000 Total Expense & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 6, 75, 000 - -------- - V. & Profit before Tax (III-IV) & 1, 50, 000 Less : Tax & 30, 000 VI. & Profit after Tax & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 20, 000 - -------- - \end{matrix}$

Notes to Accounts :

$\begin{matrix} Particualars & Rs. 1. & Change in Inventories of Stock in Trade : Openting Inventory & 80,000 Less : Closing Inventory & 60,000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 20, 000 - ------ - \end{matrix}$

Prepare a Comparative Statement of Profit & Loss from the following :

$\begin{matrix} Particulars & 31 - 03 - 2014 & 31 - 03 - 2013 (Rs.) & (Rs.) Revenue from Operations & 50, 00, 000 & 30, 00, 000 Finance Costs & 30, 00, 000 & 27, 00, 000 Employee Benefit Expenses & 4, 00, 000 & 3, 00, 000 Other Expenses & 40, 000 & 50, 000 \end{matrix}$

Income Tax is 40% of Net Profit

Find the amount of credit purchases from the below mentioned details

Particulars	Rs.
Opening Balance of Creditors	20,000
Closing Balance of Creditors	25,000
Payment to Creditors	1,40,000
Return Inwards	2,000

Identify the type of classification from the below table.

$\begin{matrix} Income level & Revenue (in lakhs of Rupees) Lower income state & 10, 000 Middle income state & 12, 000 Higher income state & 16, 000 \end{matrix}$

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From the below mentioned details, find the amount of net profit: ParticularsAmountGross profit52,000Non-core expenses25,000Non-core income8,000

The correct option is B 35,000 Net profit = Gross profit + Non-core incomes - Non-core expenses = 52,000+8,000-25,000 = 35,000

From the below mentioned details, find the amount of net profit:

$\begin{matrix} Particulars & Amount Gross profit & 52, 000 Non-core expenses & 25, 000 Non-core income & 8, 000 \end{matrix}$

The correct option is B
35,000

Net profit = Gross profit + Non-core incomes - Non-core expenses

= 52,000+8,000-25,000

= 35,000