Answer Posted / manisha

gross profit is the profit which relates to trading
i.e.purchase and sales . Gross profit means that profit
from which expenditures which are indirect are not deducted
as it is gross not net.Gross profit is carried down to net
profit.There may be a gross loss in the trading also.
Entries :-
Trading account dr.
To gross profit
(being gross profit)
Gross loss dr.
TO trading account
(being gross loss)

Gross profit= sales- cost of goods sold
cost of goods sold = opening stock+purchases-closing stock
Trading account
To opening stock xx By sales xx
To purchases xx - sales returnx xx
- purchases
return x xx By closing stock x
To wages xx By gross loss
To direct exp. x
To gross profit

what is Rectification of Errors ?

2241

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EXPAND___________NBW

1906

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Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not

7089

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Distinguish between sale and consignment

2002

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what is the step in preparing the schedule of audit? can someone explain for me?

2115

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fd redeem interest and principal entry in tally

1209

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How you implemented a chargeback system?

2263

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Define Bill of Exchange

1979

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What is the base for issuing of C-form date of sale or date of purchase since goods sent by one quarter ended may reach in next quarter.

2474

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what is internal audit

2046

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what is Exposure ?

1979

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i am the student of icwai (intermidiate) What is the tds and how use the different state ..

2119

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can payorder be issued for outstation?if yes then how?should it be account payee?

2284

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HI, FREINDS, I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY ONE DOING THIS COURSE PLEASE REPLY ME.

2352

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what is the frienge benefits tax?what is usefull?

2075

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