Use the following to answer the given question
...
Use the following to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Opening stock} & 1,200 & sales & 29,000 \\ Purchases & ? & \text{Less sales returns } & 500 \\ \text{Add. Carriage Inwards} & 300 & & ? \\ \text{Less return outwards} & 1,570 \\ & 28,500 \\ \text{Less closing stock} & 2,220 & \\ \text{Gross Profit(25% of sales)} & 28,500 & & 28,500 \end{array}\)
The goods profit is
N7,425
N7425
N7,625
N7,925
Correct answer is A
No explanation has been provided for this answer.
An example of a real account is ...
Manufacturing account is prepared to ascertain ...
The process of detecting, tracing and eliminating errors in a computer program is ...
A statement showing a trader's financial position as at a particular date is an ...
The objective of preparing departmental account is to determine the ...
Given: Furniture and fittings..................N20,000 Equipment...............................N...
The excess of value of assets over the purchase consideration on acquisition of a business is to ...