Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.
What is the net profit of Y?
a
#52,000
b
#68,300
c
#68,800
d
#69,300
Explanation
Correct Option
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Discussions (2)
baemajeks
3 years ago
This is wrong. You didn't subtract the value of cost of sales from Sales to get gross profit. The gross profit should be #100 700. Also, Department Y's ratio is 2 since they are listed second therefore it should be valued at 2/3 of #1500 which is #1000. Therfore, the net profit should be #69 700
