Let the CP be 100
MP= 110% of 100 = Rs 110
SP = 99% of 100= Rs 99
Discount= (110-99)/110
= 10%
Construct a skeletal profit-and-loss statement. Calculate profit or loss. Cross out the incorrect work (profit/loss). Gross Margin $119,760 Expenses 41.20% Profit 2.60%
can anybody explain to me how the statement was prepared,i am doing accounting for the first time
to prepare statement of profit or loss
Prepare Trading , Profit And loss and Balance Sheet
The following is the Statement of Profit or Loss and the Statements of Financial Position for Nachos Bhd (NB) for the year 2019: Nachos Bhd Statement of Profit or Loss For the year ended 30 September 2019 RM RM Sales 220,000 Cost of sales (98,000) Gross profits 122,000 Selling and distribution costs 25,000 Administrative costs 15,000 Depreciation 2,000 Profit on sale of plant (2,000) (40,000) 82,000 Interest expense (6,000) Investment income 1,000 Gain on sale of investment 2,000 Profit before...
Multiple Choice $15,220 loss $15,220 profit $38,050 profit $70,580 profit Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($20 per unit) $858,000 Variable expenses: Variable cost of goods sold 514,800 Variable selling expense 128,700 Total variable expenses 643,500 Contribution margin 214,500 Fixed expenses: Manufacturing 105,870 Selling and administrative 70,580 Total fixed expenses 176,450 Net operating income $ 38,050 During November, 35,290...
Calculate Net sales, Gross profits from sales and gross profit margin and profit and loss and Terms are: Sales Sales Discounts (5 %) $16,000 S $105,000 560 $418,000 Net sales Cost of goods sold Gross profit from sales 4,00 31,00 -320.00 215,00 -8.000-64.000 Gross profit margin ratio Gross profit/ Sales) x 100 Operating expenses ?9.000 . 31.000 -22.00? -261,000 106.000 rofit (loss) Quick Study 5-2
1)The profit & loss account of Sandy Corporation shows a net profit of $14,000. Bad debts of $500 should have been written off & a decrease of $200 in provision for doubtful debts should have been allowed. What is the profit after this adjustment?
In principle, all income and expenses are included in the statement of profit or loss. A. True B. False