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Goods costing 75000 sold at a profit of 33 1/3% half the payment received in cash ?
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Goods costing 75000 sold at a profit of 33 1/3% half the payment recei...
Cash ac Dr50000
debtors ac Dr 50000
to sales ac 100000
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Goods costing 75000 sold at a profit of 33 1/3% half the payment recei...
Calculation of Profit

Profit percentage is 33 1/3% which is equivalent to 1/3.

Therefore, Profit = (1/3) x 75000 = 25000


Selling Price

Selling price = Cost price + Profit

Selling price = 75000 + 25000 = 100000


Payment Received

Half of the payment is received in cash.

Therefore, Cash received = 1/2 x 100000 = 50000


Credit Sales

The remaining payment is credit sales.

Credit Sales = Selling price - Cash received

Credit Sales = 100000 - 50000 = 50000


Conclusion

The goods costing 75000 are sold at a profit of 33 1/3%. The selling price is 100000. Half of the payment, which is 50000, is received in cash and the remaining payment of 50000 is credit sales.
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Goods costing 75000 sold at a profit of 33 1/3% half the payment received in cash ?
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Goods costing 75000 sold at a profit of 33 1/3% half the payment received in cash ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Goods costing 75000 sold at a profit of 33 1/3% half the payment received in cash ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods costing 75000 sold at a profit of 33 1/3% half the payment received in cash ?.
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