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  • Profit and Loss

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    BIGchirwa
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    The document shows the income statement of a business for a period. It reports sales of Rs. 98,100 and a gross profit of Rs. 56,925 after deducting the cost of goods sold of Rs. 41,175. Total expenses for the period were Rs. 40,565, resulting in a net profit of Rs. 17,360.

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    The document shows the income statement of a business for a period. It reports sales of Rs. 98,100 and a gross profit of Rs. 56,925 after deducting the cost of goods sold of Rs. 41,175. Total expenses for the period were Rs. 40,565, resulting in a net profit of Rs. 17,360.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    4 views1 page

    Profit and Loss

    Uploaded by

    BIGchirwa
    The document shows the income statement of a business for a period. It reports sales of Rs. 98,100 and a gross profit of Rs. 56,925 after deducting the cost of goods sold of Rs. 41,175. Total expenses for the period were Rs. 40,565, resulting in a net profit of Rs. 17,360.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Sales 98780

    Less return inwards (680)


    98100
    LESS COST OF GOODS SOLD
    Opening stock 5760
    Add purchases 40675
    Less return inwards (500)
    Carriage inwards 2040 42215
    47975
    LESS CLOSING STOCK (6800) 41175
    Gross profit 56925
    Add rent receivable 1000
    LESS EXPENSES
    Wages (8480)
    Fuel and Power (4730)
    Carriage outwards (3200)
    Salaries (1500+15000) (16500)
    General expenses (3000)
    Insurance (600-170) (430)
    Bad debts written off (725)
    Depreciation (2000+1500) (3500) 40565
    Net profit 17360

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