Answer Posted / deepak choudhary
Gross profit is the difference between Sales and Cost of Sales. Cost of Sales is the purchase price of the goods to be sold together with the cost of getting them ready for sale.
eg A manufacturer would charge production labour and some overheads to Gross Profit.
Net profit remains after all expenses except for profit tax have been charged to the gross profit. These may include Staff salaries, rent, rates, motor expenses, auditors' remuneration etc.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Our is a banking Activity, one person is supplying printing advertisement sheet of our product, whether he is liable to deducte TDS @ 1%
what is differnce between balance sheet of a bank & a company
what are the limitations of accounting ratios?
What is aggregate Liabilities ?
You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically
What are source documents in accounting?
My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
What is trial balance? What does an accurate trial balance suggest?
What are the accounting entries for branch accounts?
what are voucher entries for EPF treatment in tally
what is loan operations and what are the complete process form from making customer to closure of loan
bookkeeping, and accountancy,purchase procedure , Educational institutions ;, secretarial practices, Administratire and Academic rules and regulations in Government offices, Academic institutional , computer skils. etc
Journalise- opened a saving a/c with S.B.I. ?
what made you take up present subject/area of specialization and what would you define as your career objectives