If sales is D 12,000 and the gross profit mark -up percen...
If sales is D 12,000 and the gross profit mark -up percentage is 25%. What is the cost of sales?
D 2,400
D 9,000
D 9,600
D 3,000
Correct answer is B
Calculate the gross profit using the gross profit mark-up percentage:
Gross Profit = Sales Amount * (Gross Profit Mark-up Percentage / 100)
Gross Profit = D12,000 * (25 / 100)
Gross Profit = D12,000 * 0.25
Gross Profit = D3,000
Calculate the cost of sales by subtracting the gross profit from the sales amount:
Cost of Sales = Sales Amount - Gross Profit
Cost of Sales = D12,000 - D3,000
Cost of Sales = D9,000
Therefore, the cost of sales is D9,000.
Credit notes received are source documents for........ ...
Which of the following errors affects the agreement of a Trial balance? ...
Which of these is the subsidiary book for return inwards? ...
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120...
Which of the following is a charge against profit? ...
The document which advertises the sale of shares of a company is a/an ...
One of the items on the debit side of sales ledger control account is ...
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...