X OF KOLKATA PURCHASED 1000 BOXES COSTING RS 100 EACH. 200 BOXES WERE SENT OUT TO Y OF DELHI AT COST + 25%. 600 BOXES WERE SOLD AT 120 EACH. THE AMOUNT OF GROSS PROFIT TO BE RECORDED IN GENERAL TRADING WILL BE
A. 12000
B. 17000
C. (3000)
D. NONE
TELL ME HOW TO DO THIS SUM :)
CA Paras jain
(Audit Senior Assistant)
(1544 Points)
Replied 21 November 2009
goods sent to delhi:-
200*125 = 25000
sales of goods- 600*120 = 72000
cost of goods sold = 800*100 = 80000
sales = 72000 + 25000 = 97000
profit = rs.17000
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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