2014 Q7

gross profit 36000
net profit 2000
B/S 202000

Q7 2014

You have to calculate credit sales and purchases in order to arrive at GP

for credit purchases=closing payables+ payment to payable
credit sales=closing debtors+ receipts from debtors

on commencement of business entry passed would be

cash 90000
capital 90000

to arrive at cash closing balance add all receipts and subtract all payments from cash book balance will be 24000
hope this solves your query. do pray for me