Use the data provided, calculate the following: Total Sales Total Purchases Gross profit Total value of closing
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Question:
Use the data provided, calculate the following:
Total Sales
Total Purchases
Gross profit
Total value of closing stock
Value of stock that was destroyed
Date as at June 1, 2023:
Creditors 107,300
debtors 86, 200
stock 122,600
Data recorded during the month:
Receipts from credit customers 71,700
Bad debts written off 7,900
Cheques returned from creditors 9,100
Cash sales 208,100 discounts allowed 6400
Stock taken for personal use 5,200
Returns outwards 10,100
Cash purchases 164,900
Payments to credit suppliers 69,800
Set off 8,300 discounts received 13,800
Data as at June 30, 2023:
Creditors 55,400
Debtors 71,200
Undamaged stock 11,900
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: