From the following, prepare Profit & Loss Account of Gurman for the year ended 31st March, 2023: Salaries and Wages 30,000
From the following, prepare Profit & Loss Account of Gurman for the year ended 31st March, 2023:
|  | ₹ |  | ₹ |
|
Salaries and Wages Commission Paid Postage and Courier Insurance Interest Paid Carriage Outwards |
30,000 2,000 1,500 3,000 4,000 5,000 |
Advertising Discount Allowed Rent Received Interest on Investment Bad Debts Travelling Expenses |
10,000 18,000 17,000 15,000 9,000 950 |
The Gross Profit was 45% of Sales. Which amounted to ₹ 6,50,000.
[Net Profit – ₹ 2,41,050.]
Also Pass the Journal entries.
Anurag Pathak Changed status to publish October 12, 2023
