Mathematics · Financial Statements with Adjustments
Based on the following pre-adjustment balances: Capital: 6,00,000 (Cr.) Drawings: 40,000 (Dr.) Purchases: 4,80,000 (Dr.) Sales: 9,60,000 (Cr.) Opening Stock: 80,000 (Dr.) Other Expenses: 2,40,000 (Dr.) Closing stock is valued at 1,00,000. Interest on capital is to be provided at 6% p.a. on the opening capital. Compute the net profit for the year before appropriation.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11,92,000
- 21,68,000
- 32,24,000✓
- 41,20,000
Correct answer
2,24,000
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