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Standard XI

Economics

Opportunity Cost

Given the fol...

Question

Given the following data:
Gross profit Rs. $6, 700$ ; Carriage Inwards Rs. $250$ ; Commission received Rs. $575$ and other expenses Rs. $3, 600$ . The net profit of the firm would be:

Rs.

3, 275

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Rs.

3, 025

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Rs.

3, 425

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Rs.

3, 675

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Solution

The correct option is D Rs. $3, 675$
Net profit = Gross Profit - Other Expenses + commission Received
6700 - 3600+ 575
= 3675
Carriage Inwards is direct Expense. It is already deducted while calculating Gross Profit.

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Similar questions

Q. Financial data of an entity is given below:
Gross Profit Rs.

6, 700

, Carriage outwards Rs.

250

, Rent received Rs.

575

and Other expenses Rs.

3, 600

. The net profit would be.

Q. The Gross profit for the year ending

31.03.2009

is Rs.

1750

, Carriage inward is Rs.

150

bad Debts is Rs.

120

Proprietors personal expenses is Rs.

750

Carriage outward is Rs.

175

. The amount of Net Profit will be:

Prepare Trial Balance from the following information:

Capital Rs.50,000; Bank Loan Rs.20,000; Trade payables Rs.18,000; Rent outstanding Rs.4,000. Capital reserve Rs.5,000; Commission received Rs.3,000; Bad debts Rs.5,000. Plant & Machinery Rs.60,000; Goodwill Rs.16,000; Carriage inwards Rs.2,500; Carriage outwards Rs.1,500; Trade Receivables Rs. 10,000; Profit and Loss (Dr.) Rs.5,000.

Q. Gross Profit Rs 1,20,000, Rent Rs 10,000, Salary Rs 30,000, Commission paid Rs 14,000 Interest on Loan Rs 10,000. Advertising Rs 8,000, Discount received Rs 6,000, Printing & Stationery Rs 4,000, Legal charges Rs 10,000, Bad Debts Rs 2,000, Depreciation Rs 4,000, Interest received Rs 8,000, Loss by life Rs 6,000. The net 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.

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Given the following data:Gross profit Rs.6,700; Carriage Inwards Rs.250; Commission received Rs.575 and other expenses Rs.3,600. The net profit of the firm would be:

The correct option is D Rs. 3,675Net profit = Gross Profit - Other Expenses + commission Received 6700 - 3600+ 575 = 3675Carriage Inwards is direct Expense. It is already deducted while calculating Gross Profit.

Given the following data:
Gross profit Rs. $6, 700$ ; Carriage Inwards Rs. $250$ ; Commission received Rs. $575$ and other expenses Rs. $3, 600$ . The net profit of the firm would be:

The correct option is D Rs. $3, 675$
Net profit = Gross Profit - Other Expenses + commission Received
6700 - 3600+ 575
= 3675
Carriage Inwards is direct Expense. It is already deducted while calculating Gross Profit.