Africa Traders is not a registered VAT vendor and buys and sells furniture. Africa Traders sold a

Fantastic news! We've Found the answer you've been seeking!

Question:

Africa Traders is not a registered VAT vendor and buys and sells furniture. Africa Traders sold a dining room table for R14 500. The mark-up percentage on cost is 9%.

What is the profit the entity will make on this product?

Posted Date: May 15, 2024 12:33 PM

See More Questions

Multiple regression refers to __________. having at least 2 years of data to analyze in decision-making models more than one prediction of future events that will occur within 6 months the expectancy...
You have recently been appointed as the accountant of CHIPPIE CHIP, a registered VAT vendor that sells potato chips to various entities across the Western Cape. The business was started 11 months...
What does the following code fragment print? String $s=$ "He11o World"; s. toUpperCase(); s. substring (6, 11); StdOut.println(s);
SHL Americas provides a unique, global perspective of how talent is measured in its Global Assessment Trends Report. The re-port presents the results of an online survey conducted in late 2012 with...
An experiment is designed to measure the partition coefficient, K, associated with the transfer of a pharmaceutical product through a polymer material. The partition coefficient is defined as the...
Page 5 of a general journal and page 8 of a cash receipts journal are provided in the Working Papers. Source documents are abbreviated as follows: memorandum, M; note receivable, NR; receipt, R. Your...
How can Clay Potts tactfully explain to Rod Golden that examination of qualitative as well as quantitative documents could be important to delivering an accurate assessment of Fieldss potential to be...
23. Walman Corp. manufactures products X, Y, and Z from a joint process. Joint costs are allocated on the basis of relative sales value at the split-off point. Additional information is as follows:...
Discuss how management of business risk is accomplished by governments and businesses. Support your discussion with case studies from around the world.
Analyze the philosophical implications of the second law of thermodynamics as it relates to the concept of time's arrow. How does this law inform our understanding of the directionality of time ?
A bank has approved $300k loan for A Corp of which $20k is currently outstanding. ABC has very little collateral so the. bank has estimated 6% of default on the loan with loss rate equal to 60%....
The Hoffman Company uses an absorption-costing system based on standard costs. Variable manufacturing cost consists of direct material cost of $3.00 per unit and other variable manufacturing costs of...
The long run phenomena of economies of scale describes as the reduction in long-run average cost and hence, in efficiency sourced to increase in firm's scale of operation. Discuss whether long-term...
The electric current flowing in a wire in the direction B to A is decreasing. What is the direction of induced current in the metallic loop kept above the wire as shown in Fig. O A B
Airbnb is an on-line, homestay network that provides short-term lodging. It is a very successful start-up that makes money by charging its users. Guest fees range from 6-12% depending on the size of...
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...
What impact might the existence of end-user computing in an organization have on the roles of the data administrator and the database administrator?
Which of the following best describes the concept of metadata? a. Data about data b. To Logical definitions of data that are not stored in the database c. Definitional information that applies to...
A passive data repository system is one that is used: a. By the database management system to retrieve and manipulate data but not to define data b. Only by the centralized data-administration group...

Africa Traders is not a registered VAT vendor and buys and sells furniture. Africa Traders sold a

Question:

Expert Answer:

To calculate the profit made on the sale of the dining room table we need to determine th... View the full answer

Students also viewed these accounting questions