Use the following information to answer the given question
$\begin{array}{c|c} & \text{1/1/86} & \text{31/12/86} \\ & N & N \\ \hline creditors & 5,000 & 8,000 \\ stock & 1,200 & 1,100 \\ \text{Mark-up} & \text{25%} & \\ \text{Cash paid to creditors} & N7,000 & \end{array}$
Gross profit is

Similar Questions

The net book value of the machine as at 31st December 2017 was ...

The authorized capital of city entertainment company is made up of 200,000 2$\frac{1}{2}$% prefere...

The similarities between Receipts and payments and income and expenditure account is ...

Danjuma Ltd. bought 10 bags of rice for N500 each. The company was given 5% and 12% trade and cash d...

Eko Local Government expenditure Hospital building ---------------------- N200,000 Drugs ---------...

\(\begin{array}{c|c} \text{Capital} & 12,700 & \text{Purchases} & 7,100 \\ \hline \text{...

The capital contribution by the partners is treated in the? ...

Excess of current assets over current liabilities is ...

Use the following information to answer the given question \(\begin{array}{c|c} & D\\ \hline ...

Goods returned by the buyer is recorded in the seller's book as ...