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Finding Net profit

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(Querist)
08 May 2011 Rent Rs.10000; Provision for bad debts(old) Rs.10000; Salaries Rs.8000; Apprentice Premium(credit) Rs.12000
Gross profit Rs.70000
Net profit of the firm will be__________? and how?
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Nayan Das

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Nayan Das (Expert)
09 May 2011 Net profit of the firm will be Rs.54000/-
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
09 May 2011 54000/-. simple calculation
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Neethu Abraham

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Neethu Abraham (Querist)
09 May 2011 but the answer key says that t z 74000.....so i got.... anyway thank u for ur reply....
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CA Gunjan Kedia

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CA Gunjan Kedia (Expert)
10 May 2011 Hi Neethu,

i think the answer key is right. the answer to this question is indeed 74000. here is how it works out:
Gross profit - 70000
+ old PBD - 10000
+ App Premium - 12000
- rent - 10000
- salaries - 8000

Answer = 74000.

gud luck !!
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Neethu Abraham

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Neethu Abraham (Querist)
10 May 2011 Thank u sir.. Now my doubt is cleared.
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