Sales....................................N10,900
S...
Sales....................................N10,900
Stock 1/1................................N1,000
Stock 31/12..............................N2,000
Purchases................................N4,000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200
The cost of goods available for sale is?
N4,600
N5,000
N6,400
N4,400
Correct answer is D
sales 10900
- Returns inwards 600
-carriage outwards 300
10000
opening stock 1000
purchase 4000
- returns outwards 800 3200
+ carriage inwards 200
goods avail. for sale 4400
less; closing stock 2000
carriage outwards 300 2300 2100
Gross profit 7900
Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,0...
D Motor vehicle 500000 Stock 35000 ...
Cash can be drawn from the bank using ...
In the balance sheet, the balance on the provision for Depreciation Account shown as ...
The trading account is usually headed ...
i Operating machines ii Furniture iii Fixtures and fitting iv Loan from friends V Creditors W...
Commercial activities undertaken by a social club to raise funds include ...
N Net profit -------------------------17,460 Capital account: Taiwo--------50,000 &...