
Question No 14 Chapter No 19
14. Calculate operating profit from the following:
Net Profit | 5,00,000 |
Dividend Received | 6,000 |
Loss on sale of Furniture | 12,000 |
Loss by Fire | 50,000 |
Salaries | 1,20,000 |
Interest on Loan from Bank | 10,000 |
Rent Received | 24,000 |
Donation | 5,100 |
The solution of Question No 14 Chapter No 19: –
Operating Profit | = | Net Profit − Non-Operating Income + Non-Operating Expenses |
Non-Operating Income | = | Dividend Received + Rent Received |
= | 6,000 + 24,000 | |
= | Rs 30,000 | |
Non-Operating Income | = | Loss on Sale of Furniture + Loss by Fire + Interest on Loan + Donation |
= | 12,000 + 50,000 + 10,000 + 5,100 | |
= | Rs 77,100 | |
∴ Operating Profit | = | 5,00,000 − 30,000 + 77,100 |
= | Rs 5,47,100 |
Note: Salary being an operating expense was already taken into account while determining net profit, thus, it will be ignored now
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Also, Check out the solved question of all Chapters: –
D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution
- Chapter 1 Evolution of Accounting & Basic Accounting Terms
- Chapter 2 Accounting Equations
- Chapter 3 Meaning and Objectives of Accounting
- Chapter 4 Double Entry System
- Chapter 5 Books of Original Entry – Journal
- Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
- Chapter 7 Books of Original Entry – Cash Book (Coming soon)
- Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
- Chapter 9 Ledger (Coming soon)
- Chapter 10 Trial Balance and Errors (Coming soon)
- Chapter 11 Bank Reconciliation Statement (Coming soon)
- Chapter 12 Depreciation (Coming soon)
- Chapter 13 Bills of Exchange (Coming soon)
- Chapter 14 Generally Accepted Accounting Principles(GAAP)
- Chapter 15 Bases of Accounting
- Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
- Chapter 17 Capital and Revenue
- Chapter 18 Provisions and Reserves
- Chapter 19 Final Accounts (Coming soon)
- Chapter 20 Final Accounts – With Adjustments (Coming soon)
- Chapter 21 Errors and their Rectification (Coming soon)
- Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
- Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
- Chapter 24 Computerised Accounting System (Coming soon)
- Chapter 25 Introduction to Accounting Information System (Coming soon)
Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.
