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Slotnick Chemical received $270,000 from customers as deposits on returnable containers during 2018. Ten percent of the containers were not returned. The deposits are based
Slotnick Chemical received $270,000 from customers as deposits on returnable containers during 2018. Ten percent of the containers were not returned. The deposits are based on the container cost marked up 15%. In other words, the cost of the container is the deposit amount divided by (1+ mark up percent). How much profit did Slotnick realize on the forfeited deposits?
Multiple Choice
- $0.
- $3,522.
- $27,000.
- $4,050.
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