The given totals can be used to determine the net loss. Also, the net loss is equal to $3,000.
When all costs (such as taxes, fees, interest, and depreciation) outweigh earnings for a specific time period, a net loss results. The term "net profit," which is often referred to as "after-tax income" or "net income," can be used to contrast a net loss. A firm, project, transaction, or investment experiences a net loss when expenses as a whole exceed income or revenue as a whole.
A net loss, or technically a negative net profit, would be reported by businesses on their income statements.
A net loss can be caused by a variety of circumstances, including weak sales, fierce competition, ineffective marketing initiatives, and rising cost of products sold (COGS).
Net Loss = Total Credits - Total Debts
Net Loss = 8,000 - 11,000 = -3,000
The minus sign indicates that there is a loss
Hence, the net loss is 3000.
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