Calculate the value of stock on hand in the following situations. 60 T-shirts bought for R30 each. 45 T-shirts sold for R50 each. .8.2 40 T-shirts bought for R32 each plus R2 per T-shirt for transport. 30 T-shirts sold for R48 each and 5 sold for R46 each. 1 T-shirt donated to one of your employees 50 T-shirts bought for R60 each but you were given a discount of 10%. 36 T-shirts were sold for R82 each and 10 for R70 each. Stocktaking showed that only 8.3 2 T-shirts were in stock. Calculate the gross profit made in the above 3 situations. New Era Accounting: Grade 10 4 2
Calculate the value of stock on hand in the following situations. 60 T-shirts bought for R30 each. 45 T-shirts sold for R50 each. .8.2 40 T-shirts bought for R32 each plus R2 per T-shirt for transport. 30 T-shirts sold for R48 each and 5 sold for R46 each. 1 T-shirt donated to one of your employees 50 T-shirts bought for R60 each but you were given a discount of 10%. 36 T-shirts were sold for R82 each and 10 for R70 each. Stocktaking showed that only 8.3 2 T-shirts were in stock. Calculate the gross profit made in the above 3 situations. New Era Accounting: Grade 10 4 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Transcribed Image Text:that covers all the costs plug your
1.8.1
1.8.2
1.8.3
1.8.4
Calculate the value of stock on hand in the following situations:
60 T-shirts bought for R30 each. 45 T-shirts sold for R50 each.
40 T-shirts bought for R32 each plus R2 per T-shirt for transport. 30 T-shirts sold
for R48 each and 5 sold for R46 each. 1 T-shirt donated to one of your employees.
50 T-shirts bought for R60 each but you were given a discount of 10%. 36 T-shirts
were sold for R82 each and 10 for R70 each. Stocktaking showed that only
2 T-shirts were in stock.
Calculate the gross profit made in the above 3 situations.
New Era Accounting: Grade 10
22
ACCOUNTING CONCEPT/RULE
HISTORICAL COST RULE
Assets are always reflected at their original cost price, i.e. the price paid for the article.
1.8
Homera
TASK 1.8
Calculations
7.
8.
9.
10.
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900
THE MATC
From the previa
ing price), there
pays cash for g
Assets increase
This income is
At the same ti
equation will a
Asset:
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