The gross profit ratio is ratio of gross profit and which ratio ?
(A) Net Cash Sales
(B) Net Credit Sale
(C) Closing Stock
(D) Net-Total Sales
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A,B and C are partners sharing profits and losses in the ratio of 2:2:1 resptively A is entited to a commission fo 10% on the net profit Net profit fo
Commission payable to A -Rs, 11,000
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X.Y and Z are partners sharing profit and losses equally as per partnership Deed ,Z is entited to a commission of 10% on the net profit after charging
Commission payable to Z -Rs.20,000
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What do you mean by Gross Profit?
When the total credit side of Trading A/c is greater than the total of debit side, it indicates credit balance, which is called gross profit.
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i. Debit balance of Trading Account means ________ (a) Gross Loss (b) Net Loss (c) Net Profit (d) Gross Profit
i. (a) Gross Loss ii. (a) Trading iii. (a) Net Profit iv. (b) less v. (b) Six
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i. Gross Profit is transferred to _________account. ii. Debit Balance of Trading Account indicates __________
i. Profit and Loss A/c ii. Gross Loss iii. Asset iv. Profit and Loss A/c v. Net Working
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Capital A/c……………..Dr. To Profit and Loss Account (Being Net Profit transferred to Capital A/c)
Profit and Loss Account…………….Dr. To Capital A/c (Being Net Profit transferred to Capital A/c)
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Calculate the Gross Profit/Gross Loss Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000
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...
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Are the following statements true or false ? Give reasons . In a closed economy , gross domestic product is always equal to gross national product .
Correct Answer - True . It happens because net factor income from abroad is zero due to no interaction with the rest of the world.
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(i) Gross Profit is transferred to _________ account.
(i) Profit & Loss Account (ii) Gross Loss (iii) Asset (iv) Profit & Loss Account (v) Networking
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The cost price of two articles is the same. One is sold at 10% profit and the other is sold at 10% loss. What is the effective profit/loss percentage
Correct Answer - No profit/loss is made
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