Use the following information to answer the given questions

$\begin{array}{c|c} & N \\ \hline Debtors & 30,000 \\ Creditor & 20,000 \\ \text{Opening stock} & 15,000 \\ \text{Closing stock} & 18,000\\ Wages & 3,000 \\ Salaries & 10,000 \\ Purchases & 30,000 \\ Sales & 60,000\end{array}$

The gross profit percentage is

Similar Questions

Balance sheet (Extract) Creditors #7,940 Prepaid expenses #290 Accrual expenses #323 Stock #4,...

Receipt and payment account discloses? ...

A company advertised and issued N750,000, 12% preference shares of N1 each to be issued at N1.50 per...

BALANCE SHEET AS AT 31st DECEMBER, 2010 \(\begin{array}{c|c} & ₦ & & ₦ \\ \hline \te...

In a modern day banking system, cash transfer cannot be made where the transferer ...

Cost of rent as an expense can be apportioned to all department on the basis of: ...

Recognition of profit when goods are sold and the buyer takes ownership of them is in line with ...

The receipt whose name appears on a cheque is called a ...

Date.............QTY. .....RATE........TOTAL ...............(Units).....N...........N January 2nd....

An example of a real account is  ...