MGT101 ASSIGNMENT 3 Fall 2020

 

MGT 101 ASSIGNMENT 3 Fall 2020

GROSS PROFIT

Net sale-Less cost of goods sold =Gross  Profit

65,000 – 25,000 = 40,000

PURCHASE

Cost of good sold – Less opening stock = Purchases

25,000 – 15,000 = 10,000

NET BOOK VALUE OF PLANT & MACHINERY

Cost of assets – Less acc dep

100,000 - 20,000 = 80,000

Less depreciation (100,000*10%) 10,000

Book value of assets  90,000

NEW MACHINE                           30,000

Less Depreciation (30,000*10%*3/12)     730

Book Value    29250