#23,500
#60,500
#60,700
#82,500
Correct answer is B
Sales - Cost of Goods Sold = Gross Profit.
Cost of goods sold = opening stock + purchases - closing stock
COGS= 2500 + 120000 - 3000 = 119,500
180,000 - 119,500 = 60,500
Sales
Purchases
Equality
Floor space
Correct answer is C
No explanation has been provided for this answer.
When shares are issued at a discount, entries are to debit
Application allotment account and credit discount account
Discount account and credit
Cash account and credit discount account
Discount account and credit bank account
Correct answer is A
No explanation has been provided for this answer.
Net income
Revenue reserve
Capital reserve
Net loss
Correct answer is C
Capital reserve is derived from the accumulated capital surplus of a company, created out of capital profit.
When a share valued at 50k is issued at #1.59, it is said to be issued at
Par
Premium
Discount
Interest
Correct answer is B
Issue of shares at premium means that the issuing of shares above the face value (also called as nominal value or par value). Simply put, when shares are issued at a price higher than the face value, it is said to be issued at a premium.