gross profit & net profit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2011 DEAR Sir/Madam

PLEASE SUGGEST I AM WRITE OR WRONG IN G.P. & N.P. CALCULATION.

ITS A PROP. FIRM PREVIOUS FINANCIAL YEAR 09-10 M/s.X COLOR CLOSING DT 31.03.10 G.P. IS 12.28% & N.P. IS 2.89%

THIS YEAR M/s.X COLOR CONVERT PROP. FIRM TO PARTNERSHIP FIRM EFFECTED ON 01.01.2011 SO WE CLOSED THE ACCOUNT ON DT.31.12.10 AS PROP. FIRM

THE REQ. SUGGESTION IS HOW TO CALCULATE THE G.P. AND N.P. ON 31.12.10 IF WE MAINTAIN THE % AS PREV.YEAR CLOSING.

I AM DOING AS BELOW

PREVIOUS YEAR G.P. 12.28% / 4 MONTH = 3.07% X 3 MONTH = 9.21% IS IT RIGHT OR WRONG ?

PREVIOUS YEAR N.P. 2.89% / 4 MONTH = 0.7225% X 3 MONTH = 2.1675% IS IT RIGHT OR WRONG ?

THANKS IN ADVANCE

CA. RAVIKUMAR

CA. RAVIKUMAR (Expert)
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18 March 2011 Both are Wrong it should be calculated based on the sales, purchase, direct expenses, indirect expenses, and stock information

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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10 June 2011 Dear GP & NP is actual result of transaction you have to calculate as per your actual transaction performance and actual stock

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