Answer to Question #236402 in Economics for reshma shaik

Question

7) From the following ledger balances of Gopal, prepare Profit & Loss Account for the year ended 31-03-2007 Rs. Rs. Rent Paid 6000 Bad debts 1000 Salaries 8000 Printing & Stationery 1500 Commission Paid 2000 Office Insruance 1000 Discount allowed 2000 Postage 500 Advertisements 2000 Repairs 500 Telephone charges 1000 Interest received 3500 Interest on loans 3000 Gross Profit 40% on Sales 200000 (Ans: NP: 55000)

Answer 1

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