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At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:
  • a)
    Rs. 1,45,500
  • b)
    Rs. 1,30,500
  • c)
    Rs. 55,500
  • d)
    Rs. 70,500
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
At the end of the financial year 2011-12 the gross profit of Ram&rsquo...
we wll write gross profit b/d on credit side and carriage outward and bad debts on debit side bcz they are loss and expense ... and we wll subract the debit amount from credit amount..
drawing will go in balance sheet
prepaid expense in banlance sheet
carriage inward in trading a/c
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At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer?
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At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer?.
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Here you can find the meaning of At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer?, a detailed solution for At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice At the end of the financial year 2011-12 the gross profit of Ram’s business is Rs. 1,75,000. During the year carriage inward Rs. 15,000, Ram’s personal expenses Rs. 75,000 and carriage outward Rs. 17,500 were paid by Ram. Bad debts for the year were Rs. 12,000. The net profit earned by Ram for the year 2011-12 would be:a)Rs. 1,45,500b)Rs. 1,30,500c)Rs. 55,500d)Rs. 70,500Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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