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Question 62 Chapter 4 of +2-B
Profitability Ratio
62. (G.P. Ratio) (a) From the following particulars calculate gross profit ratio :
| ₹ | |
| Gross profit | 42,000 |
| Net sales (Revenue from Operation) | 3,00,000 |
(b)
| 2016 | 2017 | |
| Sales (Revenue from Operation) | 3,00,000 | 4,00,000 |
| Gross profit | 1,00,000 | 1,20,000 |
(c)
| ₹ | ₹ | ||
| Sales (Revenue from Operation) | 1,60,000 | Purchases | 90,000 |
| Sales return | 10,000 | Purchases returns | 10,000 |
| Opening Inventory | 30,000 | Closing Inventory | 10,000 |
| (a) Gross Profit Ratio | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 42,000 | X | 100 | |
| ₹ 3,00,000 | ||||
| = | 14% |
| (b) (i) 2014 | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 1,00,000 | X | 100 | |
| ₹ 3,00,000 | ||||
| = | 33.3% |
| (ii) 2015 | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 1,20,000 | X | 100 | |
| ₹ 4,00,000 | ||||
| = | 30% |
(c)
Trading A/c
| Particular |
Amount | Particular |
Amount | ||
|---|---|---|---|---|---|
| To Opening Stock A/c | 30,000 | By Sale A/c | 1,60,000 | ||
| To Purchases A/c | 90,000 | Less: Returns | 10,000 | 1,50,000 | |
| Less: Returns | 10,000 | 80,000 | By Closing Stock | 10,000 | |
| To Gross Profit A/c | 50,000 | ||||
| 1,60,000 | 1,60,000 | ||||
| = | ₹ 50,000 | X | 100 |
| ₹ 1,50,000 | |||
| = | 33.3% |
Also, Check out the solved question of previous Chapters: -
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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