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EXERCISE 12 Use the following two transactions to complete this exercise: Purchased trading stock per cheque, R5 000. Sold R2 000 of the stock for cash at a profit mark-up of 60%. ● ► Required: (Show workings) 1. How much stock is sold? 3. Calculate the selling price of the stock sold. 2000 L nizo 100 3200 How much of the stock is left unsold ? K5000-12000 29. = 13000

EXERCISE 12 Use the following two transactions to complete this exercise: Purchased trading stock per cheque, R5 000. Sold R2 000 of the stock for cash at a profit mark-up of 60%. ● ► Required: (Show workings) 1. How much stock is sold? 3. Calculate the selling price of the stock sold. 2000 L nizo 100 3200 How much of the stock is left unsold ? K5000-12000 29. = 13000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Owner h for te a 3. O nko 100 a) 4. Draw Eg. How much stock is sold? Vehicles t equation. accounts Capita' The owner me that + SALES g account isabel Calculate the selling price of the stock sold. * How much of the stock is left unsold ? 15000 - 2000 e EXERCISE 12 Use the following two transactions to complete this exercise: Purchased trading stock per cheque, R5 000. Sold R2 000 of the stock for cash at a profit mark-up of 60%. Required: (Show workings) 3200 EXERCISE 2.2 01511 5000 LEVEL 29. % Bank 3200 ACTUAL MARK ado Aere Use the following T- Accounts, try to complete the double entry principle for the a + BANK TRADING S Sales 3200 EMO 5000 SIMULATION ... trading 2000 COST OF EXERCISE 13 Arrange the following steps in the accounting cycle in the correct sequence. W indicate the corect sequence:
Transcribed Image Text:Owner h for te a 3. O nko 100 a) 4. Draw Eg. How much stock is sold? Vehicles t equation. accounts Capita' The owner me that + SALES g account isabel Calculate the selling price of the stock sold. * How much of the stock is left unsold ? 15000 - 2000 e EXERCISE 12 Use the following two transactions to complete this exercise: Purchased trading stock per cheque, R5 000. Sold R2 000 of the stock for cash at a profit mark-up of 60%. Required: (Show workings) 3200 EXERCISE 2.2 01511 5000 LEVEL 29. % Bank 3200 ACTUAL MARK ado Aere Use the following T- Accounts, try to complete the double entry principle for the a + BANK TRADING S Sales 3200 EMO 5000 SIMULATION ... trading 2000 COST OF EXERCISE 13 Arrange the following steps in the accounting cycle in the correct sequence. W indicate the corect sequence:
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