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 3...

Assessment: JAMB UTME - Commerce - 2019 Subject: Commerce

Question 1 Report

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

Answer Details
Net profit = Gross profit - Expenses
3000 - 1400 = 1600

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