White Ltd has a retail branch at Margaon. Goods are sold at 60% profit on cost. The
Question:
White Ltd has a retail branch at Margaon. Goods are sold at 60% profit on cost. The wholesale price is cost plus 40%. Goods are invoiced from Calcutta Head Office to Branch at Margaon at wholesale price. From the following particulars ascertain the profit made at head office and branch for the year ended December 31, 2017.
Sales at head office are made only on wholesale basis and that at branch only to customers. Stock at head office is valued at invoice price.
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To ascertain the profit made at both the Head Office and the Margaon branch well calculate the cost ...View the full answer
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Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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