A trader provided the following data. | | $\$$ | | :--- | ---: | | total purchases | 25301 | | purchase returns | 1945 | | carriage inwards | 748 | | goods taken for own use | 1425 | What was the net figure for purchases in the income statement?

Explanation

To find the net figure for purchases, we need to subtract the purchase returns and goods taken for own use from the total purchases. Net purchases = Total purchases - Purchase returns - Goods taken for own use = $25301 - $1945 - $1425 = $22679.

A trader provided the following data. | | $\$$ | | :--- | ---: | | total purchases | 25301 | | purchase returns | 1945 | | carriage inwards | 748 | | goods taken for own use | 1425 | What was the net figure for purchases in the income statement?

Explanation

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