Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1d) Yesterday, Willow set up a pop-up shop with 8,000 cash. She bought 500 units of inventory at 4 each (paying cash for 220 units,

1d) Yesterday, Willow set up a pop-up shop with 8,000 cash. She bought 500 units of inventory at 4 each (paying cash for 220 units, the remainder will be paid for later). She paid 4,000 for rent of the shop for 10 days, paid for transport for yesterday and today totalling 100 and paid for five days storage costing 300 in total. She sold 400 units at 20 each. What is the total profit for yesterday? (6 marks) (type in this box) 12 marks What is the closing cash balance for yesterday? (6 marks) (type in this box)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What is happening with demand in the smartphone market?

Answered: 1 week ago

Question

Describe how smart thinkers use intuition.

Answered: 1 week ago

Question

Tell the merits and demerits of Mendeleev's periodic table.

Answered: 1 week ago

Question

4. What sales experience have you had?

Answered: 1 week ago

Question

15-5 How will MIS help my career?

Answered: 1 week ago