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.
Trading Expenses
From the figures given, calculate
Net profit
| ₦ | ₦ | ||
| Opening stockPurchase | 10007000 | Sales | 8000 |
| Closing Stock | 3000 |
Trading Expenses
| ElectricitySalariesRentDepreciations | ₦135875180210 |
From the figures given, calculate
Net profit
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Correct Answer: Option C
Explanation:
Net profit = Gross profit - Expenses
3000 - 1400 = 1600
Net profit = Gross profit - Expenses
3000 - 1400 = 1600