Answered: Goods of the Invoice value R240 000…

Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were sold, what would be the gross amount? Select one: a. R48 000 b. R50 000 c. R40 000 d. R33 333

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Q36

Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were sold, what would be the gross amount?

Select one:

a. R48 000

b. R50 000

c. R40 000

d. R33 333

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