i need help in accounts

[dare007]

http://www.xtremepapers.me/CIE/Cambridg ... _qp_21.pdf

no 1
how to find the closing stock

 

[Kokeeto]

I have solved it before. Here is the post:
viewtopic.php?f=24&t=5654
Good Luck. Ask me if you have any doubts..

 

[dare007]

need help on no 5b)
how do find share of profit

 

[ActiveGirl]

Well, It is damn easy!!! Need not to worry... :Bravo:

Mark -Up =25%


Sales --------------> 125
Cost of sales-----> 100
Gross Profit -------> 25

$216,000 -------> 125
? --------> 25

25/125 x 216,000 = $43200 <--------- GROSS PROFIT

What else left? Found the gross profit now find the cost of sales by the following :- :Yahoo!:

$216000 - $43200 = $172800 ------) Cost of sales