Use the following information to answer the given question
\(\begin{array}{c|c} & \text{1/1/86} & \text{31/12/86} \\ & N & N \\ \hline creditors & 5,000 & 8,000 \\ stock & 1,200 & 1,100 \\ \text{Mark-up} & \text{25%} & \\ \text{Cash paid to creditors} & N7,000 & \end{array}\)
Gross profit is

Similar Questions

Balance as per cashbook 2, 970 Bank Charges 220 Unpresented cheques 3,950 Uncredited cheques 4,17...

The principle of double entry developed from the axioms of accounting equation is given as ...

You add the following when starting with the balance as per cash book when preparing the bank reconc...

An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% ...

Which of the following is an example of production overhead? ...

Customers use the financial position of a company to ...

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for...

A suspense account is used to ...

Use the following information to answer the given question \(\begin{array}{c|c} & DR & CR...

Commercial activities undertaken by a social club to raise funds include ...