Use the following to answer the given question

$\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}$

Net profit is

Similar Questions

Which of the following is not prepared by a partnership? ...

Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \hline \text{O...

A company has departments M and N. The expenses incurred wholly in M is N5000. General expenses incu...

Opening capital ---10,800 Drawings----------- 2,500 Trade creditors ----2,560 Trade debtors -----...

Items shown in the balance sheet as asset includes ...

Dangote acquired Dantata’s business for N350,000. The total asset work were N820,000 and liabi...

Given: Returns inwards............N1500 cash.......................N1550 Discount...................

Creditors use Accounting information for the purpose of ...

If the gross profit margin is 10% of sales, what is the value of the cost of goods sold? ...

The double entry for interest on drawings by a partner is: debit  ...