DEAR ALL
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
ARSHAD
CAclubindia
