Use the following to answer the given question

$\begin{array}{c|c} \text{Purchases} & 2,000\\ \text{Opening stock} & 900\\ \text{Closing stock} & 300 \\ \text{Sales} & 3,850\end{array}$

Gross profit is

Similar Questions

Shares issued to a vendor in payment of business purchased would require a debit to ...

  Opening stock ₦ Department A B 100 800 ...

Chibuike bought 36 notebooks at N10 each from John and was given a trade discount of 5%. In addition...

The allocation of funds from treasury to accounting heads in public sector is ...

When a fixed asset is disposed off, the accounting entries to write off the asset are Debit ...

The item on the credit side of the trading account is the? ...

In preparing the final accounts, the bad debt account is closed by a transfer to the ...

Which of the following are impersonal accounts ? I. Investment II. Creditors III. Premises IV. D...

Trading Account (Extract) .................N.............................N...... Opening stock.....

What is the balance carried down? ...