Treatment of Depreciation in Profit and Loss Accounts and Balance Sheet

Example: The following are the extracts from a Trial Balance: Assessment Calculate the Gross profit of Mallam Dongo. Stock 1/1/93                            ₦4,500 Sales                                        ₦13,500 Purchases                                ₦5,000 Carriage inwards                     ₦500 Stock 31/12/93                        ₦4,200 Returns inwards                      ₦600…