Question on: JAMB Accounting - 2019
Use the following information to answer this question
The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8
| ₦ | ₦ | |
| Sales less: cost of goods sold | 233,000 170,000 | |
| 63,000 | ||
| less: Overhead Expenses Admin expenses Selling expenses Other overhead expenses | 16,800 15,000 6,200 | |
| Net profit | 25,000 |
Calculate the net profit on percentage of expenses.
A
60%
B
25%
C
13%
D
65.7%
Ask EduPadi AI for a detailed answer
Correct Option: D
Net profit on percentage of expenses =
Net profit x 100
Expenses
= \(\frac{25000}{38000}\) x 100
= 65.7%
Ans = 65.7%
Add your answer
Please share this, thanks!
No responses