Question
The Bright Company had the following balances for the year ended December 31, 2020: Stock on 1.1.2020 .. OMR 340,000 Stock on 31.12.2020.. OMR 380,000
The Bright Company had the following balances for the year ended December 31, 2020:
Stock on 1.1.2020 .. OMR 340,000
Stock on 31.12.2020.. OMR 380,000
Sales.. .. OMR 1,600,000
Sales Returns. OMR 200,000
Carriage Inwards . OMR 440,000
Purchases ...... OMR 800,000
Purchases Returns OMR 280,000
Selling expenses. OMR 80,000
Administrative expenses OMR 90,000
Requirement: Calculate Gross Profit Ratio and Operating Profit Ratio from the above information. (4 Marks)
The Bright Company had the following balances for the year ended December 31, 2020:
Stock on 1.1.2020 .. OMR 340,000
Stock on 31.12.2020.. OMR 380,000
Sales.. .. OMR 1,600,000
Sales Returns. OMR 200,000
Carriage Inwards . OMR 440,000
Purchases ...... OMR 800,000
Purchases Returns OMR 280,000
Selling expenses. OMR 80,000
Administrative expenses OMR 90,000
Requirement: Calculate Gross Profit Ratio and Operating Profit Ratio from the above information. (4 Marks)
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Economics And Personal Finance
Authors: Irvin Tucker, Joan Ryan
1st Edition
1133562108, 978-1133562108
