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A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Calculate the net profit. Wages $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030

A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Calculate the net profit. Wages $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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Calculate the net profit?

A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Calculate the net profit. Wages $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030
Transcribed Image Text:A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Calculate the net profit. Wages $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030
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