Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. yellow sharpener is a stationery shop. the followi

Yellow Sharpener is a stationery shop. The following information relates to the year ended ...

70.2K

Verified Solution

Question

Accounting

Yellow Sharpener is a stationery shop. The following information relates to the year ended
31 March 20X3:
Opening inventory: C15000
Closing inventory: C18000
Purchases: C30000
General expenses: C10000
Cash sales: C15500
The stock count revealed that there were no stock shortages during the period.
The business has always calculated selling prices using an expected gross profit
percentage of 33,3%.
You are required to:
Calculate the gross profit and the credit sales for the year ended 31 March 20X3.
Ignore VAT.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The average and RMS value of voltage for square wave shown in figure 5 254...

Physics
Q

The grade point averages GPA for 12 randomly selected college students are shown on the...

Statistics
Q

Applebee sells speakers with a 6 month manufacturer’s warranty.At the time of purchase, customers...

Accounting
Q

Activity Availability, Capacity Used, Unused Capacity Corazon Manufacturing Company has a purchasing department staffed by five purchasing...

Accounting
Q

In cats and rabbits, an autosomal recessive mutation causes soft curly fur, called the rex...

Biology
Q

3 The function f x 2x 33x 180x 3 has one local minimum and one...

Calculus
Q

Write the Babylonian numeral as a Hindu A WWVY The equivalent Hindu Arabic numeral is...

Algebra
Q

The predetermined overhead rate for Sheridan Company is $5, comprised of a variable overhead rate...

Accounting
Q

Imperial Jewelers manufactures and sells a gold bracelet for $407.00. The companys accounting system says...

Accounting
Q

Sunset Motors, Inc., makes small motors for appliances and other uses. The company develops plans...

Accounting
Q

Question B 3. (6 points) James Smith, an international fund manager, uses the...

Finance
Q

5. Compare life insurance quotes for a person aged a. 30 years, b. 50 years....

Finance