What is the calculation to determine Gross Profit?

What is the calculation to determine Net Profit$/$Loss$?$

Calculate net profit for the following scenario:

$\backslash$table$[[$Cash on hand,$800],[$Sales$,10,000],[$Inventory$,8,000],[$Cost of Sales,$4,000],[$Salaries Payable,$1,200],[$Expenses$,1,800]]$

Net Profit

$9.$ In the following T account, identify which side is debit and credit:

$10.$ Demonstrate in the following $T$ account the $6$ main account types and whether their normal $($typical$)$ balance is a debit or credit

$11.$ The company buys office furniture worth $$600$ and charges it on its account with The Furniture Company. Show the journal entry that would demonstrate this transaction.

$\backslash$table$[[$Account Name,Debit,Credit$],[,,],[,,]]$

The company buys $$45$ worth of paper for the copier and pays cash for it$.$ Show the journal entry that would demonstrate this transaction.

$\backslash$table$[[$Account Name,Debit,Credit$],[,,]]$