Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

The cost of sales is $60,000, sales are $95,000 and operating expenses are $20,000 during the year, what would be the value of Gross Profit?

user-image
Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/25
Saharsh Gupta
by Saharsh Gupta , Senior Researcher , Tracxn Technologies

95000-(60000 +20000)=15000 So Option( A) $15000

GP=sales-cos =350000 ans is B

Sigalla Ndiapa
by Sigalla Ndiapa , Network Marketer , Happy World Meal Gate

the answer is Rs.35000.That is because GP=Net sales(Turn-over) - Cost of sales

Ibrahim Adewale Ige
by Ibrahim Adewale Ige , Admin Manager/Document Controller , HIGH TRADE CONCEPT RESOURCES LTD

A)  $15,000

 = Sales $95,000 - (Cost of Sales $60,000 + Operating Expenses $20,000) 

Gross Profit $15,000

JOHN FIANU
by JOHN FIANU , Senior Accountant , HOLY SPIRIT CATHOLIC PREPARATORY SCHOOL

The gross profit is $35,000 This is because Sales minus cost of sales gives you the gross profit

Masoom Ishaq Muhammad Ishaq
by Masoom Ishaq Muhammad Ishaq , Assistant Manager Finance , Charag Din & Co.

the answer is option B. bcoz operating expenses are include already in cost of sales

Saqib Ibrahim
by Saqib Ibrahim , Senior Accountant , Arabian Industries LLC

THE GROSS PROFIT WILL BE $35000

Sayed Rizvi
by Sayed Rizvi , Senior Accountant , Papercut Factory wll

B-35,000/- GROSS PROFIT, NET PROFIT IS15,000/-

Eslam Embaby
by Eslam Embaby , Senior Accountant , Elmadyna - Regina Co. agent

the right answer $Rs.35,000C)

Shazia Anees
by Shazia Anees , Assistant Manager Finance , Arham Trading Company

Rs35000=========================

the best answer would be: Gross Profit will B) $35000

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.