What is Purchase, Sales and Profit?

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Purchase, Sales and ProfitExample 1 Suppose I open a Mobile Shop I buy Mobile for 10000 and sell it for 12000 What is Purchase, Sales and profit Purchase 10000 Sales 12000 Profit 2000 (Expense) (Income) (Income less Expense) Purchase, Sales and ProfitExample 2 Suppose I open a Mobile Shop I buy Mobile for 10000 and sell it for 9000 What is Purchase, Sales and Profit/Loss Purchase 10000 Sales 9000 Profit 1000 (Expense) (Income) (Expense-Income)) Difference Between Profit And LossProfit Loss If Income is more than expense Balance is Profit If Expense is more than Income Balance is Loss Note Both Profit and loss are shown in Positive What is Definition of Purchase?Example 1 Ram buy Mobile for 10000 Vendor Goods My Company Money My Company exchanged Money for Goods So Purchase is Exchange of Money for Goods What is Definition of Sales?Example 1 Ram sell mobile for 12000 My Company Goods Customer Money My Company exchanged Goods for Money So Sales is Exchange of Goods for Money SUMMARY Vendor Goods My Company Money My Company Goods Customer Money Purchase for Company Purchase Sales Profit Loss Sale for Company it is exchange of goods for Money it is exchange of money for Goods If income is more than expense, Balance is Profit If expense is more than Income, Balance is Loss