need an urgent help guys

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krunal j shah (Querist)
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23 November 2010 1.Net-Sales=Rs 36000,his gross profit is 60% of sales and net profit is 40% of sales,his expenses are
1)14,200
2)8,800
3)14200
4)none

2.As per trial balance as on 31st march,1996
10%loan credit-36000 Interest on loan Debit-1850 interest on loan is charged for the full year having regards to the facts that 2,000 paid back on June 30th and Rs 2,000 on 30 sep wht is the total amount of interest to be debited to Profit and Loss Account?
1)3000
2)2000
3)3000
4)none

plz help me to get this solution as soon as possible

CA. Aryendra

CA. Aryendra (Expert)
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24 November 2010 1. None

36000*40% Expenses=14400

21600-14400 (Profit)=7200 Epenses

21600 Total Expenses

2. I could not understand the second question

krunal j shah

krunal j shah (Querist)
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24 November 2010 Sir in the second question as per trial balance we have taken a 10% loan which is on the credit side-Rs 36000 and on the debit side-it is interest on loan Rs 2000
hope you got the question this tym

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krunal j shah

krunal j shah (Querist)
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24 November 2010 and sir thnk you for the solution of the 1st question......

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