Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Use the following Information extracted from the books of Timaya and P. Square to answer question 40.46. N6,500 1 The purchass for the year Is:
Use the following Information extracted from the books of Timaya and P. Square to answer question 40.46. N6,500 1 The purchass for the year Is: (A) N20,000 (B) N21000 (C) N22,000 (D) N24,000 (E) N25,000 2 What is the stock turn-over rate? (A) 3 times (B) 3.3 times (C) 3.5 times (D) 3.7 times (E) 4 thmes. 3 The gross profit for the year is: (A) N6,625 (B) N6,250 (C) N6000 (D) N5,600 (E) N5,000 4 Wht. Is the turn-over for the year? (A) N27,500 (B) N26,500 (C) N25,500 (D) N24,500 (E) N22,000 Calculate the percentage of net profit pn sales. (A) 25% (B) 22% (C) 21% (D) 20% (E) 10% What is the amount charged In the Profit and Loss Account? (A) N6500 (B) N5500 (C) N5000 (D) N4000 (E) N2750 Patlent and Trade Mark are classifled under (A) Flxed Assets (B) Current Assets (C) Intanglble Assets (D) Wasting Assets (E) Investment Assets Accumulated Fund as at 1it January, 2004 1s: (A) N54,100 (B) N52,800 (C) N52,600. (D) N51,300 (E) N58,200 Subscription relating to 2004 is : (A) N 19600 (B) 17,300 (C) N16,500 (D) N15,000 (E) N18,000. Use the following Information extracted from the books of Timaya and P. Square to answer question 40.46. N6,500 1 The purchass for the year Is: (A) N20,000 (B) N21000 (C) N22,000 (D) N24,000 (E) N25,000 2 What is the stock turn-over rate? (A) 3 times (B) 3.3 times (C) 3.5 times (D) 3.7 times (E) 4 thmes. 3 The gross profit for the year is: (A) N6,625 (B) N6,250 (C) N6000 (D) N5,600 (E) N5,000 4 Wht. Is the turn-over for the year? (A) N27,500 (B) N26,500 (C) N25,500 (D) N24,500 (E) N22,000 Calculate the percentage of net profit pn sales. (A) 25% (B) 22% (C) 21% (D) 20% (E) 10% What is the amount charged In the Profit and Loss Account? (A) N6500 (B) N5500 (C) N5000 (D) N4000 (E) N2750 Patlent and Trade Mark are classifled under (A) Flxed Assets (B) Current Assets (C) Intanglble Assets (D) Wasting Assets (E) Investment Assets Accumulated Fund as at 1it January, 2004 1s: (A) N54,100 (B) N52,800 (C) N52,600. (D) N51,300 (E) N58,200 Subscription relating to 2004 is : (A) N 19600 (B) 17,300 (C) N16,500 (D) N15,000 (E) N18,000
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669c5e73be99c_827669c5e73629c1.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669c5e7464ec1_828669c5e7402729.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started