Home » Accounts (Principles of Accounts) » Profit or loss in a partnership is usually arrived at after deducting from gross profit…Profit or loss in a partnership is usually arrived at after deducting from gross profit… Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including? A. partners’ salaries B. interest on capital C. partners’ drawings D. interest on loans Correct Answer: Option D Explanation Related Posts Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33(frac{1}{3})% on cost…. The petty cash book has Given: Opening capital – #50,000 Closing capital – #64,000 Drawings – #16,000 Determine the net… Given: Club N150 Cash sales N4,850 Club debtors at close N900 Cash received from debtors… Use the following to answer the given question DEBTORS CONTROL ACCOUNT: (begin{array}{c|c} & N &… The cost of goods sold at N32,000. The gross profit is 25% on cost. Returns…
