SharpkopAccounting P1 · Financial statements income statement
InformationHideShow
Protea Ridge Ltd sells hardware at a mark-up on cost. Financial year ended 29 February 2024.
Cost of sales for the year (per the books): R6 400 000
The normal mark-up is 50% on cost.
Goods that cost R160 000 (included in the cost of sales above) were sold to staff at a mark-up of 25% on cost.
All other goods were sold at the normal mark-up.
1.2(a)8 marks
Calculate the sales and the gross profit that Protea Ridge Ltd must show in its Statement of Comprehensive Income.
NSCBased on Nov 2024 · Paper 1 · Q1.2(a)
Not yet checked by a teacher. Spot a problem? Report it.