Mr. Robertson owns a store. His mark-up percentage is 80%. He is also VAT registered, VAT is 15% of the selling price. 2.1 Mr. Robertson buys handbags at R108 each, what is the selling price of these bags excluding VÁT? 2.2 How much profit would he earn selling 25 bags? 2.3 Calculate the selling price of one handbag including VAT. 2.4 Mr. Robertson hires a new assistant. She calculates that a pair of shoes that is bought for R850 should be sold for R1572,50 excluding VAT. State, with calculations, whether her mark-up percentage was correct.
Mr. Robertson owns a store. His mark-up percentage is 80%. He is also VAT registered, VAT is 15% of the selling price. 2.1 Mr. Robertson buys handbags at R108 each, what is the selling price of these bags excluding VÁT? 2.2 How much profit would he earn selling 25 bags? 2.3 Calculate the selling price of one handbag including VAT. 2.4 Mr. Robertson hires a new assistant. She calculates that a pair of shoes that is bought for R850 should be sold for R1572,50 excluding VAT. State, with calculations, whether her mark-up percentage was correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please Answer The Subsections 2.4 & 2.5
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