Answer Posted / md.rasheed

Gross profit= Sales-Cost of goods sold
Cost of goods sold is nothing but
(Opening stock+Purchases+all direct expenses-closing stock)
Operating profit=Gross profit-Operating Expenses
it is also called Net Profit.
Operating expenses are nothing but all Indirect Expenses
like Salaries, Telephone, Stationary and so on.

how can make configration related with electronic bank statment and how can i upload bank statment to system

2001

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Expand---------OST

2162

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Expand-------IETF

2409

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Expand--------SRTA

1895

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what do you mean indirect expanse in trading business?

2228

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what is the difference between speculation & investment?

2162

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why gross profit transfering to profit & loss account

4180

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Total numbers of companies listed on stock Exchange?

2481

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how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%

2581

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Expand-------ATBN

2089

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what are the importance accounting entries for AP and AR process in interview..

1611

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What is Mean By FRS for HQ reporting, How To Prepare?

2009

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Expand---------NPTO

1987

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How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?

2319

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4. Calculate the following from the particulars given below: i) Material Cost Variance ii) Material Price Variance iii) Material Usage Variance iv) Material Mix Variance v) Material Yield Variance Material Standard Actual Qty kgs. Price Rs Value Rs. Qty kgs. Price Rs Value Rs A 50 4 200 40 5 200 B 30 6 180 30 6 180 C 20 3 60 30 3 90 100 440 100 470 Loss 20 ----- 30 ----- 80 440 70 470

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