D Traders purchased a product for R1 450 (excluding VAT). It was resold for R2 100 (excluding VAT Calculate the gross profit margin for this product.
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D Traders purchased a product for R1 450 (excluding VAT). It was resold for R2 100 (excluding VAT
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- D Traders purchased a product for R1 450 (excluding VAT). It was resold for R2 100 (excluding VAT) Calculate the mark-up on cost for this product.On June 1, Entity A sold Product XX2 for P50,000 with a cost price of P30,000. Credit terms is 2/10, n/30. On June 15, P10,000 worth of Product XX2 was received due to wrong specifications. The buyer availed of the discount period and paid on June 10. What is the gross profit of Entity A for Product XX2?C Traders purchased goods for R7 500 (excluding VAT). A Traders apply a constant mark-up on cost ratio of 30% on all products. Calculate the sale price (including VAT)
- Marigold Ltd. sold goods to Martinez Corp, for 67400, terms n/15, FOB shipping point. The inventory had cost Marigold $35800. Marigold’s management expected a return rate of 3% based on prior experience. What is the adjusting entry?MN Plc's draft statement of profit or loss for the year ended 31 March 20X8 includes GHS8m of revenue for credit sales made on a 'sale or return' basis. At 31 March 20X8 customers who had not yet paid had the right to return goods to the value of GHS2.6m. MN Plc applied a mark-up on cost of 30% on all of these sales. MN Plc's customers have in the past returned goods under this type of agreement. By what amount should MN Plc's profit for the year ended 31 March 20X8 be reduced in respect of this? A. GHS2,600,000 B. GHS780,000 C. GHS600,000 D. GHS2,400,000A VAT-registered business makes a sale of P12,000, inclusive of VAT. The VAT on the sale can be computed as* a. P12,000 x 12%b. P12,000 / 12% c. P12,000 x 12% / 112%d. P12,000 / 12% / 112%
- What is the net income for the year if the net revenue from by-product is treated as deduction from the cost of goods sold? Group of answer choices d. P118,000 b. P230,000 a. P200,000 c. P218,000Merchandise costing $2,000 is sold for $3,000 on terms 2/10, n/30. If the buyer pays within thediscount period, what amount will be reported on the income statement as net sales and as grossprofit?The acquisition of goods with an invoice price of $10,000 is subject to the following terms: 2/10, n/30, FOB destination. The vendor covered all transportation expenses in the amount of $300. What is the merchandise's net cost?
- Marigold Company purchased merchandise inventory with an invoice price of $6000 and credit terms of 2/10, n/30. What is the net cost of the goods if Marigold Company pays within the discount period? $5880 $6000 $5520 $5400In 2022, matapat A. CO reported net inxom of P18,000. The correct net income was 25,000. It was determined tharvthe ending inventory was overstated by P3,000 while the purchases was understated by P1,000. The only other error was with the beginning inventort which would be a. 11,000 over b.5,000 over c. 9,000 under d.3,0000 underIf the product was sold P80 per unit, how much was its unit cost? Inventory value that should be shown in the Statement of Financial Position of 08/31/21?