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प्रश्न
Calculate the Gross Profit/Gross Loss
Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000, Purchases Returns ₹ 500, Closing Stock ₹ 18,000
उत्तर
Cost of Goods Sold = Opening Stock + Purchases – Purchases Returns + Carriage Inward – Closing Stock
= 5,000 + 15,500 – 500 + 1,200 – 18,000
= ₹ 3,200
Gross Profit = Sales – Cost of goods sold
= 30,000 – 3,200
= ₹ 26,800
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Give a word, term, or phrase which can substitute the following statement:
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| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
Chennai tennis club had a Match fund showing a credit balance of ₹ 24,000 on 1st April, 2018. The receipt to the fund during the year was ₹ 26,000. Match expenses incurred during the year was ₹ 33,000. How these items will appear in the final accounts of the club for the year ended 31st March, 2019?
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| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | ||
| Receipts | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Balance b/d | |||
| Cash in hand | 2,400 | Bank overdraft | 1,000 | |
| To Subscription | 8,700 | By Postage expenses | 200 | |
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| To Sale of science equipments (Book value ₹ 5,000) | 6,000 | By Secretary’s honorarium | 5,000 | |
| To Miscellaneous income | 500 | By Audit fees | 3,600 | |
| By General charges | 1,800 | |||
| By Exhibition expenses | 5,000 | |||
| By Balance c/d | ||||
| Cash in hand | 200 | |||
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| Dr. | Receipts and Payments Account for the year ended 31st March, 2018 | Cr. | ||
| Receipts | ₹ | ₹ | Payments | ₹ |
| To balance b/d | By Rent and rates | 18,000 | ||
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| Cash at bank | 20,000 | 30,000 | By Furniture purchased | 12,000 |
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| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | |||
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| To balance b/d | By Match expenses | 25,000 | |||
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| To Miscellaneous receipts | 5,000 | Cash at bank | 6,000 | 13,000 | |
| 1,58,000 | 1,58,000 | ||||
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Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 45,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
