The document summarizes the profit and loss statement for a company for the period ending 30 June 20x7. It shows sales of Rs. 408,500 with cost of sales of Rs. 219,000 resulting in a gross profit of Rs. 189,500, which is 46% of sales. Total operating expenses were Rs. 130,000 resulting in a net profit of Rs. 59,500.
The document summarizes the profit and loss statement for a company for the period ending 30 June 20x7. It shows sales of Rs. 408,500 with cost of sales of Rs. 219,000 resulting in a gross profit of Rs. 189,500, which is 46% of sales. Total operating expenses were Rs. 130,000 resulting in a net profit of Rs. 59,500.
The document summarizes the profit and loss statement for a company for the period ending 30 June 20x7. It shows sales of Rs. 408,500 with cost of sales of Rs. 219,000 resulting in a gross profit of Rs. 189,500, which is 46% of sales. Total operating expenses were Rs. 130,000 resulting in a net profit of Rs. 59,500.
If discount will be taken If discount wont be taken Dr Cr Dr Cr Inventory on hand 960 Inventory on hand 1000 Acc Pay 960 Acc Pay 1000 1000 - (4% x 1000)
Acc Pay 960 Acc Pay 1000
Bank 960 Bank 960 Interest income 40 Acc Rec 741 Acc Rec 780 Sales 741 Sales 780 (780 - (5% of 780)) Cost of Sales Expense 600 Cost of Sales Expense 576 Inventory on hand 600 Inventory on hand 576 (600 - (4% of 600))
Acc Rec 494 Acc Rec 520
Sales 494 Sales 520 (520 - (5% of 520) Cost of Sales Expense 384 Cost of Sales Expense 400 Inventory on hand 384 Inventory on hand 400 (400 - (4% of 400))
Bank 741 Bank 741
acc Rec 741 acc Rec 780 Interest expense 39 Bank 520 acc rec 494 Bank 520 Interest income 26 acc rec 520