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Mr. Y gives the following information 31.03.2015
Inventory on 1st Jan.2014 – 1,60,500
Purchases – 4,80,000
Manufacturing expenses – 75,000
Administrative expenses – 33,000
Financial expenses – 18,000
Annual insurance – 6,000
Sales – 7,00,000
G.P is 20% on sales. Find net profit –
Purchases – 4,80,000
Manufacturing expenses – 75,000
Administrative expenses – 33,000
Financial expenses – 18,000
Annual insurance – 6,000
Sales – 7,00,000
G.P is 20% on sales. Find net profit –
- a)8,000
- b)89,000
- c)83,000
- d)1,01,000
Correct answer is option 'C'. Can you explain this answer?
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Mr. Y gives the following information31.03.2015Inventory on 1st Jan.20...
Given information:
- Inventory on 1st Jan. 2014: 1,60,500
- Purchases: 4,80,000
- Manufacturing expenses: 75,000
- Administrative expenses: 33,000
- Financial expenses: 18,000
- Annual insurance: 6,000
- Sales: 7,00,000
- G.P is 20% on sales
To find: Net profit
Solution:
1. Calculation of Cost of goods sold (COGS):
- Opening inventory: 1,60,500
- Add: Purchases: 4,80,000
- Less: Closing inventory (Assuming it is same as opening inventory): 1,60,500
- COGS = 4,80,000
2. Calculation of Gross profit (GP):
- GP = 20% of Sales = 20/100 * 7,00,000 = 1,40,000
3. Calculation of Operating profit:
- Operating profit = GP - Manufacturing expenses - Administrative expenses - Financial expenses - Annual insurance
- Operating profit = 1,40,000 - 75,000 - 33,000 - 18,000 - 6,000
- Operating profit = 8,000
4. Calculation of Net profit:
- Net profit = Operating profit - Taxes (Assuming taxes are not given in the question)
- Net profit = 8,000
Therefore, the correct option is (c) 83,000.
- Inventory on 1st Jan. 2014: 1,60,500
- Purchases: 4,80,000
- Manufacturing expenses: 75,000
- Administrative expenses: 33,000
- Financial expenses: 18,000
- Annual insurance: 6,000
- Sales: 7,00,000
- G.P is 20% on sales
To find: Net profit
Solution:
1. Calculation of Cost of goods sold (COGS):
- Opening inventory: 1,60,500
- Add: Purchases: 4,80,000
- Less: Closing inventory (Assuming it is same as opening inventory): 1,60,500
- COGS = 4,80,000
2. Calculation of Gross profit (GP):
- GP = 20% of Sales = 20/100 * 7,00,000 = 1,40,000
3. Calculation of Operating profit:
- Operating profit = GP - Manufacturing expenses - Administrative expenses - Financial expenses - Annual insurance
- Operating profit = 1,40,000 - 75,000 - 33,000 - 18,000 - 6,000
- Operating profit = 8,000
4. Calculation of Net profit:
- Net profit = Operating profit - Taxes (Assuming taxes are not given in the question)
- Net profit = 8,000
Therefore, the correct option is (c) 83,000.
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Mr. Y gives the following information31.03.2015Inventory on 1st Jan.20...
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Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer?
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Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer?.
Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer?.
Solutions for Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA CPT.
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Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Mr. Y gives the following information31.03.2015Inventory on 1st Jan.2014 – 1,60,500Purchases – 4,80,000Manufacturing expenses – 75,000Administrative expenses – 33,000Financial expenses – 18,000Annual insurance – 6,000Sales –7,00,000G.P is 20% on sales. Find net profit –a)8,000b)89,000c)83,000d)1,01,000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA CPT tests.
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