Question on: JAMB Commerce - 2019
Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.
| ₦ | ₦ | ||
| Opening stock Purchase |
1000 7000 |
Sales | 8000 |
| Closing Stock | 3000 |
Trading Expenses
Electricity Salaries Rent Depreciations |
₦ 135 875 180 210 |
From the figures given, calculate
Net profit
A
1400
B
5000
C
1600
D
6400
Ask EduPadi AI for a detailed answer
Correct Option: C
Net profit = Gross profit - Expenses
hence,
3000 - 1400 = 1600
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