Calculate the amount of gross profit, operating profit and net profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2023
Calculate the amount of gross profit, operating profit and net profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2023.
[Ans. Gross Profit ₹ 4,60,000, Operating Profit ₹ 3,50,000; Net Profit ₹ 3,30,000.]
| ₹ | |
| Opening Stock | 50,000 |
| Net Sales | 11,00,000 |
| Net Purchases | 6,00,000 |
| Direct Expenses | 60,000 |
| Administration Expenses | 45,000 |
| Selling and distribution Expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing Stock | 70,000 |
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