Question
Study the extract from the statement of comprehensive income of CPQ Traders for the 2019 and 2020 financial years and answer the questions that follow:
Study the extract from the statement of comprehensive income of CPQ Traders for the 2019 and 2020 financial years and answer the questions that follow:
|
| 2019 R | 2020 R |
| Sales | 600 000 | 720 000 |
| Gross profit | 200 000 | 280 000 |
| Expenses | 185 000 | 206 000 |
| Net profit | 15 000 |
|
1.1 Calculate the cost of sales for 2019, By how much did sales increase in 2020?
1.2 Calculate the mark-up % on cost for 2019
1.3 Calculate the gross margin for the year 2020
1.4 Calculate the expenses as a percentage of sales for the year 2020
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Auditing Principles And Techniques
Authors: Sanjib Kumar Basu, Andrei Alexandrescu
1st Edition
8177581783, 9788177581782
