3.1 3.2 3.3 3.4 Calculate the selling price if: 3.1.1 3.1.2 Goods are bought at R2...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3.1 3.2 3.3 3.4 Calculate the selling price if: 3.1.1 3.1.2 Goods are bought at R2 340,00 and profit is calculated at 80% on the cost price The following amounts are given at the financial year-end of BaBa Traders RAND 180 000 12 000 A business paid R1 720,00 for stock and sold it at a loss of R150,00 ACCOUNT Capital Drawings Equipment Vehicles Trading Stock Bank Overdraft 3.2.2 3.2.3 3.2.4 40 000 105 000 36 000 Debtors Control Creditors Control 11 000 Net Profit 10 000 3.2.1 Calculate the balance of the capital account (owner's equity). Calculate the total assets at the end of the financial year. Calculate the total liabilities at the end of the financial year. 5.000 13 000 Show by means of calculations that the accounting equation 'Assets = Owner's Equity + Liabilities' will be true. A business owes a creditor R540. The creditor charges interest at 10% per year. Calculate the interest charged for 3 months Prepare an age analysis of sales to a debtor J. Carey for the current month ending 31 May 2010, if: Balance on 1 May 2010 The balance includes purchases for Purchases for the current month March 2010 April 2010 May 2010 R780,00 R400,00 R380,00 R540,00 3.1 3.2 3.3 3.4 Calculate the selling price if: 3.1.1 3.1.2 Goods are bought at R2 340,00 and profit is calculated at 80% on the cost price The following amounts are given at the financial year-end of BaBa Traders RAND 180 000 12 000 A business paid R1 720,00 for stock and sold it at a loss of R150,00 ACCOUNT Capital Drawings Equipment Vehicles Trading Stock Bank Overdraft 3.2.2 3.2.3 3.2.4 40 000 105 000 36 000 Debtors Control Creditors Control 11 000 Net Profit 10 000 3.2.1 Calculate the balance of the capital account (owner's equity). Calculate the total assets at the end of the financial year. Calculate the total liabilities at the end of the financial year. 5.000 13 000 Show by means of calculations that the accounting equation 'Assets = Owner's Equity + Liabilities' will be true. A business owes a creditor R540. The creditor charges interest at 10% per year. Calculate the interest charged for 3 months Prepare an age analysis of sales to a debtor J. Carey for the current month ending 31 May 2010, if: Balance on 1 May 2010 The balance includes purchases for Purchases for the current month March 2010 April 2010 May 2010 R780,00 R400,00 R380,00 R540,00
Expert Answer:
Answer rating: 100% (QA)
31 Calculate the selling price if 311 Goods are bought at R2 34000 and profit is calculated at 80 on the cost price To calculate the selling price with an 80 profit margin you can use the following fo... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Honeygold Limited (hereafter Honeygold) is a South African company that produces and distributes organic beeswax products. The company has a financial year end of 30 June. The following information...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
Why does the cost to load in an unconstrained system is lower compared to contrained with N - 1 Contingency in PLEXOS Modelling? What are the factors that affect the increase in cost to load during...
-
An alumna of a sorority donates $12,000 to it for restricted use in its community service activity. How does this ONPO account for the contribution? How does it account for the $12,000 expenditure?
-
Alliance Printing of Baltimore has applied for a loan. Their bank has requested a budgeted balance sheet at April 30, 2014, and a budgeted statement of cash flows for April. The March 31, 2014,...
-
Compute profitability ratios (Learning Objective 4) Compute four ratios that measure Bonapartes ability to earn profits. The companys comparative income statement follows. The data for 2004 are given...
-
Irons Incorporated entered into the following stock transactions: Apr. 5 Issued 30,000 shares of $3 par value common stock for $180,000. May 31 Purchased 1,000 shares of treasury stock for $50,000....
-
Marigold Company manufactures customized metal buildings. The following pertains to Job No . 9 5 3 : \ table [ [ Direct materials used,$ 2 9 8 0 0
-
Mr. M has been employed as an engineer by A Ltd., a company incorporated in Hong Kong. During the year ended 31 March 2019, Mr. M had the following income and expenditure. A monthly salary of...
-
Q: How does reducing lactic acid affect muscle growth? Give an overview of the answer to your question. Provide the scientific details of the answer to your question including relevant information....
-
The condensed statements of Independent Auto Inc. follow: Independent Auto Inc. Income Statement ( $ 0 0 0 ) For Years Ended December 3 1 2 0 2 3 2 0 2 2 2 0 2 1 Net sales $ 2 1 0 , 2 0 0 $ 1 9 3 , 4...
-
please answer 35,36, and 37! graphs included along with data Force vs. Current mv and ap (1) 7/15/19 11:57 AM
-
There are many different ways to add capacity. List several of these and discuss when each would be appropriate.
-
Discuss a minimum of three (3) core components of Grievance Procedures within aviation labor relations and analyze how this can benefit the relationship between union labor and management.
-
Discuss the types of and different models for change. How can change be a cause of conflict. What are other causes of conflict? Would the conflict caused by change be functional or dysfunctional...
-
Technetium-99m is a radioactive substance used to diagnose brain diseases. Its half-life is approximately 6 hours. Initially, you have 220 mg of technetium-99m. (a) Write an equation that gives the...
-
Write a paper about the Working relationship in the organization- collaboration within and outside the organization
-
Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 21,732 miles during 2012, of which 95 percent was business mileage. The actual cost of...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-4. Ivan and Irene paid the following in 2012 (all by check or can otherwise be...
-
If Charles, a 16-year-old child model, earns $50,000 a year and is completely self supporting even though he lives with his parents, can his parents claim him as a dependent? Why or why not?...
-
Lucy and Nick Lars, local golf stars, opened the Chip-Shot Driving Range on March 1 , 2005, by investing $20,000 of their cash savings in the business. A caddy shack was constructed for cash at a...
-
Today companies must compete in a global economy. Nestle, a Swiss company, is the largest food company in the world. If you were interested in broadening your investment portfolio, you might consider...
-
Natalie Koebel spent much of her childhood learning the art of cookie making from her grandmother. They passed many happy hours together, mastering every type of cookie imaginable and later devising...
Study smarter with the SolutionInn App