From the following balances taken from the books of Simmi and Vimmi Ltd for the year ending March 31, 2003, calculate the gross profit Closing stock Net sales during the year Net purchases during the year Opening stock Direct expenses (Rs ) 2,50,000 40,00,000 15,00,000 15,00,000 80,000...

ANSWER To calculate the gross profit you can use the following formula GrossProfit NetSales CostofGo ...

From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending

Question:

From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2003, calculate the gross profit.

image text in transcribed

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accountancy Financial Accounting Part 2 For Class 11

ISBN: 9788174505323

1st Edition

Authors: NCERT

See More Books

Question Posted: Feb 16, 2024 12:00 PM

See More Questions

From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit. Closing Stock (?)2,50,000 Net sales during the year 40,00,000...
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
Chee, single, age 40, had the following income and expenses during 2017: Calculate Chees taxable income for the year before personal exemptions. If Chee has any options, choose the method that...
Is the compensation plan causing a problem? How?
A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. Show computations where appropriate....
Create Your Own: Bubble Plot Using any of the datasets that come with this text that include at least three quantitative variables (or any other dataset that you find interesting and that meets this...
Evan Nathan runs a home repair business. Recently he gathered the following cost information about the repair of a clients pool deck: replacement wood, $650; deck screws and supplies, $112; and...
Please provide your prediction for Apple sales for the year ending in September 2 0 2 4 ? Do you think Apple will generate more sales this current year, than they have in prior years? Why yes or why...
From the following balances extracted from the books of M/s Ahuja and Nanda. Calculate the amount of : (a) Cost of goods available for sale (b) Cost of goods sold during the year (c) Gross Profit...
Discuss the need of preparing a balance sheet.
Write the following queries in XQuery, assuming the DTD from exercise. a. Find the names of all employees who have a child who has a birthday in March. b. Find those employees who took an examination...
Real world work situations can result in some of the best learning experiences that we retain as life lessons. In an online environment, it can be difficult to pass on things with informal...
1.) UNSPSC provides a universally accepted metadata layer for organizing and controlling spend data. This standardization is key to driving accurate organization and correlation of spend data and to...
What happens in an organization if employees do not support the formal or informal culture leaders establish in the organization? If an organization's rules are part of the culture, how might leaders...
Based on the weekly reading related to Technology: Ethics and Social Responsibility Issues - What are the ways in which a company can manage the growth of technology and leverage technological...
Describe the distribution channel for a new line of suntan lotions, which comes with stencils so the user can have a "tan tattoo". What niche marketing would be used in the promotion of the product?...
Rathke Delivery is a rapidly growing delivery service. Last year, 80% of its revenue came from the delivery of mailing pouches and small, standardized delivery boxes (which provides a 10%...
Explain the circumstances that could result in a long-term bank loan being shown in a statement of financial position as a current liability.
Stephen is a rational, risk-averse investor with $5,000 to invest for one year. He has decided to invest this amount in a high-technology firm and has narrowed his choice down to either AB Ltd. or XY...
Sonja, a rational investor, has $2,500 to invest for one year while she completes her professional accounting designation. She is contemplating investing the full amount in shares of Northeastern Oil...
Refer to Theory in Practice 3.1, concerning Home Capital Group (HC), describing the issues faced by HC following public revelation of problems with its high-risk mortgage portfolio and its failure to...
A 15.0-kg wagon with wheels that turn with negligible friction travels to the right at 5.0 m/s on a horizontal surface with negligible friction as shown in the diagram. When the wagon reaches Point...
Three very long, straight wires lie at the corners of a square of side d, as shown in the figure. The currents in the three wires have the same magnitude i, but the two diagonally opposite currents...
A line charge with charge density = +35 C/m lies along the central axis of a thin, charged cylindrical shell with radius R = 17 cm. At a distance r = 45 cm from the central axis, the electric field...

From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending

Question:

Closing stock Net sales during the year Net purchases during the year Opening stock Direct expenses (Rs.) 2,50,000 40,00,000 15,00,000 15,00,000 80,000

Step by Step Answer:

ANSWER To calculate the gross profit you can use the following formula GrossProfit NetSales CostofGo...View the full answer

Accountancy Financial Accounting Part 2 For Class 11

Students also viewed these Business questions