The major advantage of the journal proper is that it

Departments K Y
Opening 2,500 800
Purchases 120,000 100,000
Sales 180,000 200,000
Salary 8,000 30,000
Closing stock 3,000 1,500
Rate expenses of 1,500 are apportioned in the ratio 1:2

The gross profit for K is

One of the objectives of accounting is that it can be used for

The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a

The instrument used in analysis and interpretation of financial statement is the