Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the information below, the gross profit figure is: Debit Credit Sales 650,000.00 Purchases 95,000.00 Opening inventory 45,000.00 Discount allowed 2,300.00 Discount received 2,700.00 Carriage
Using the information below, the gross profit figure is:
| Debit | Credit | ||
| Sales | 650,000.00 | ||
| Purchases | 95,000.00 | ||
| Opening inventory | 45,000.00 | ||
| Discount allowed | 2,300.00 | ||
| Discount received | 2,700.00 | ||
| Carriage in | 1,500.00 | ||
| Carriage out | 3,100.00 | ||
| Rent Received | 55,000.00 | ||
| Ending Inventory | 30,000.00 |
a.
593,900
b.
538,900
c.
541,200
d.
540,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Internal Quality Auditing
Authors: Denis Pronovost
1st Edition
0873894766, 9780873894760
