Sales N20,000
Cost sales N10,000
Operating expenses N2,500
Expenses prepaid included 
in operating expenses N500

Calculate the net profit?

Similar Questions

The vote book in Public Sector Accounting is used to ...

A business extracted its trial balance and discovered that the total of the credit side exceede...

Receipt and payment account discloses? ...

At the end of a financial period, the trading profit and loss account of a company showed a profit o...

A cash book had opening balance of N15,200 closing balance N18,400 and total cash received during th...

Which of the following is not a liability? ...

Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application...

Why should a new partner contribute towards goodwill on his admission? ...

The bank statement shows a debit balance of Le 475. After the entry of an uncredited of Le Le 800, t...

Use the following information \(\begin{array}{c|c} & ₦\\ \hline\text{Opening capital} &am...