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    Profit or Loss1

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    danishahmed2126
    This profit and loss account for the year ending June 30, 2023 shows total sales of Rs. 240,500 and other income, resulting in a gross profit of Rs. 240,500. Total expenses were Rs. 84,000, including advertising, conveyance, taxes, stationery, communication, and other indirect expenses. This led to a profit before income tax of Rs. 156,500. After accounting for income tax of Rs. 39,383, the net income for the year was Rs. 117,117.

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    Profit or Loss1

    Uploaded by

    danishahmed2126
    8 views1 page
    This profit and loss account for the year ending June 30, 2023 shows total sales of Rs. 240,500 and other income, resulting in a gross profit of Rs. 240,500. Total expenses were Rs. 84,000, including advertising, conveyance, taxes, stationery, communication, and other indirect expenses. This led to a profit before income tax of Rs. 156,500. After accounting for income tax of Rs. 39,383, the net income for the year was Rs. 117,117.

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    This profit and loss account for the year ending June 30, 2023 shows total sales of Rs. 240,500 and other income, resulting in a gross profit of Rs. 240,500. Total expenses were Rs. 84,000, including advertising, conveyance, taxes, stationery, communication, and other indirect expenses. This led to a profit before income tax of Rs. 156,500. After accounting for income tax of Rs. 39,383, the net income for the year was Rs. 117,117.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    8 views1 page

    Profit or Loss1

    Uploaded by

    danishahmed2126
    This profit and loss account for the year ending June 30, 2023 shows total sales of Rs. 240,500 and other income, resulting in a gross profit of Rs. 240,500. Total expenses were Rs. 84,000, including advertising, conveyance, taxes, stationery, communication, and other indirect expenses. This led to a profit before income tax of Rs. 156,500. After accounting for income tax of Rs. 39,383, the net income for the year was Rs. 117,117.

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    of 1

    PROFIT & LOSS ACCOUNT

    FOR THE YEAR ENDED ON 30-6-2023

    PARTICULAR AMOUNT AMOUNT

    SALE
    240,500

    OTHER INCOME
    GROSS PROFIT 240,500

    LESS EXPENSE

    Advertisment 10,000

    CONVEYANCE 35,000

    TAX 1,000

    STATIONERY 5,000

    COMMUNICATION 28,000

    OTHER INDIRECT EXPENSE 5,000 84,000

    PROFIT BEFORE INCOME TAX 156,500

    INCOME TAX 39,383

    NET INCOME / LOSS 117,117

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