Use the following information to answer the given question:

\(\begin{array}{c|c} & N \\ \hline \text{Stock at 1st Jan. 1901} & 6,500 \\ \text{Stock at 31st Dec. 1901} & 5,500 \\ \text{Creditors at 1st Jan. 1901} & 4,000 \\ \text{Creditors at 31st December 1901} & 5,000 \\ \text{cash paid for goods during the year} & 20,000 \\ \text{Gross profit} & \text{25% on cost} \\ \text{Administrative and selling expenses} & 2,750
\end{array}\)

Calculate the percentage of net profit on sales

Similar Questions

Use the following information to answer the given question, Aba and Baba are partners who agreed to ...

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

Goods stolen at the branch is debited to ...

The amount for which a business is sold is ...

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fe...

If Fatima was granted a discount of 2% what will be discount allowed? ...

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

Which of the following items is not contained in the Receipts and Payments Account? ...

A limited liability company has an authorized shares capital of 50 million split into 100 millions s...

The need for changes in accounting theory in Nigeria was influenced by the ...