cost of goods sold from the following information: Opening stock Purchases Direct expenses , , , Indirect expenses Closing stock , , ( Answer : Cost of goods sold: ` , ) ( Hint : Indirect expenses do not form part of cost of goods sold) . Find out the amount of sales from the following information: Opening stock Purchases less returns , , , Closing stock Gross profit margin (on sales) , % ( Answer : Sales ` , , ) Accountancy - . From the following details, prepare profit and loss account. Gross profit Office rent Depreciation on office assets Discount allowed Advertisement Audit fees , , , , , , Interest received Discount received Carriage outwards Insurance on office building General expenses Freight inwards , , , , , , ( Answer : Net profit ` , ) ( Hint : Freight inwards will not appear in profit and loss account as it is a direct expense) .
From the following information, prepare profit and loss account for the year ending 31st December, . Gross loss Promotional expenses Distribution expenses Commission paid Interest on loan paid Packing charges (on sales) Dividend received , , , , , , , Printing and stationery (office) Legal charges Bad debts Depreciation Rent received Loss by fire not covered by insurance , , , , , , ( Answer : Net loss: ` , , ) . From the following balances obtained from the books of Mr. Ganesh, prepare trading and profit and loss account.
Stock on . . Purchases for the year Sales for the year Expenses on purchases Financial charges paid Expenses on sale , , , , , , Bad debts Trade expenses Discount allowed Commission allowed Selling expenses Repairs on office vehicles , , , Closing stock on December . .
was ` , ( Answer : Gross profit: ` , ; Net profit: ` , ) . From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, : Capital Debtors Drawings , , , Cash in hand Net profit Plant , ,