Use the following information to answer the given questio...
Use the following information to answer the given question:
NStock at 1st Jan. 19016,500Stock at 31st Dec. 19015,500Creditors at 1st Jan. 19014,000Creditors at 31st December 19015,000cash paid for goods during the year20,000Gross profit25% on costAdministrative and selling expenses2,750
Calculate the percentage of net profit on sales
25%
22%
21%
20%
10%
Correct answer is E
No explanation has been provided for this answer.
Which of the following is not part of prime cost of production? ...
Adama's bank account showed an overdraft of N600 on 31st march. On going through the account, it...
Which of the following does not lead to depreciation assets? ...
Accrual concept stipulates that ...
When shares issued are paid for, accounting entry required is ...
The accumulation fund of a non-trading concern can equally be referred to as ...