Question
4.The following table are available for Charo Company: 2008 2009 2010 Installment sales P 50,000 P 80,000 P? Cost of installment sales ? ? 91,800
4.The following table are available for Charo Company:
2008
2009
2010
Installment sales
P 50,000
P 80,000
P?
Cost of installment sales
?
?
91,800
Gross profit
?
?
28,200
Gross profit percentage
?
25%
?
Cash collections:
2008 sales
2009 sales
2010 sales
?
?
?
25,000
20,000
10,000
50,000
45,000
Realized Gross Profit on Installment Sales
1,100
10,500
?
Using installment method, compute the realized gross profit in 2010:
A.
P10,575
C.
P2,200
B.
12,500
D.
25,275
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Government and Not-for-Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese, Daniel L. Smith
8th edition
1119495814, 1119495857, 1119495819, 9781119495819 , 978-1119495857
