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WAEC SSCE - Financial Accounting - 1998 (Objective)

Pergunta 1 Relatório

Use the following information to answer the given questions
\(\begin{array}{c|c} & N \\ \hline Debtors & 30,000 \\ Creditor & 20,000 \\ \text{Opening stock} & 15,000 \\ \text{Closing stock} & 18,000\\ Wages & 3,000 \\ Salaries & 10,000 \\ Purchases & 30,000 \\ Sales & 60,000\end{array}\)
The net profit percentage is
Detalhes da Resposta
To calculate the net profit percentage, we need to subtract all the expenses from the total revenue and then divide it by the total revenue. Total Revenue = Sales = N60,000 Total Expenses = Opening Stock + Purchases + Wages + Salaries - Closing Stock = N15,000 + N30,000 + N3,000 + N10,000 - N18,000 = N40,000 Net Profit = Total Revenue - Total Expenses = N60,000 - N40,000 = N20,000 Net Profit Percentage = (Net Profit / Total Revenue) x 100% = (N20,000 / N60,000) x 100% = 33.33% (rounded to the nearest whole number) Therefore, the answer is 33%.
Ler a nota de aula em Nature And Significance Of Accounting (JAMB)
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