Q754
A company incorporated on 1st April 2001 took over a running business from 1st January, 2001 and prpared its final accounts on 31st December, 2001. Its grows profit was Rs. 24,000 and sales were as under: January - Twice the average sale February - Equal to average sale May to August - 1/4^ th of average sale, each month October and November - 3 times the average sale each month What is the Gross Profit prior to incorporation:
A company incorporated on 1st April 2001 took over a running business from 1st January, 2001 and prpared its final accounts on 31st December, 2001. Its grows profit was Rs. 24,000 and sales were as under:
January - Twice the average sale
February - Equal to average sale
May to August - of average sale, each month
October and November - 3 times the average sale each month
What is the Gross Profit prior to incorporation:
January - Twice the average sale
February - Equal to average sale
May to August - of average sale, each month
October and November - 3 times the average sale each month
What is the Gross Profit prior to incorporation:
A.
Rs. 7,000
AnswerB.
Rs. 8,000
C.
Rs. 7,500
D.
Rs. 8,500
Answer: Option A
Solution
Answer: Option A
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