\(\begin{array}{c|c} & N \\ \hline Sales & 200,000 \\ \text{Opening Stock} & 20,000 \\ purchases & 140,000 \\ \text{Closing Stock} & 10,000 \\ Expenses & 10,000\\ Bank & 10,000 \\ Capital & 85,000 \\ Creditors & 35,000 \\ Debtors & 50,000 \\ \text{Fixtures and fittings, cost} & 10,000 \\ \text{Freehold land and building} & 70,000 \\ Drawings & 10,000\end{array}\) Gross profit is

Similar Questions

The process of entering transaction from one book to another is ...

When the sum of money appears on the credit side of the cash book, but not on the debit side of the ...

The price paid for the purchase of a business is ...

In the absence of a partnership agreement, additional capital contributions by partners attract inte...

Which of the following expenses relates to the profit and loss account of a manufacturing firm? ...

The accounting principle that is applied to check arbitrary actions on the part of accountants is? ...

The major advantages of an impurest system is that it ...

Stock or raw materials(1st January) 3000 Direct wages 2500 Direct expenses 1000 Factory overheads...

Use the information below to answer this question At the end of a financial period, the trading p...

The major point of agreement carried by the partnership deed is? ...