23 November 2010
1.Net-Sales=Rs 36000,his gross profit is 60% of sales and net profit is 40% of sales,his expenses are 1)14,200 2)8,800 3)14200 4)none
2.As per trial balance as on 31st march,1996 10%loan credit-36000 Interest on loan Debit-1850 interest on loan is charged for the full year having regards to the facts that 2,000 paid back on June 30th and Rs 2,000 on 30 sep wht is the total amount of interest to be debited to Profit and Loss Account? 1)3000 2)2000 3)3000 4)none
plz help me to get this solution as soon as possible
24 November 2010
Sir in the second question as per trial balance we have taken a 10% loan which is on the credit side-Rs 36000 and on the debit side-it is interest on loan Rs 2000 hope you got the question this tym
CAclubindia
