<p>The Asa branch of Emene company Ltd, made a sales of N549,000 from the goods sent from the head office during the period ended 31/12/94.</p><p>These sales were based on a 22% markup. If branch expenses were N34,400 and there were no discrepancies, what should be the profit of the branch for the period?</p>

The Asa branch of Emene company Ltd, made a sales of N549,000 from the goods sent from the head office during the period ended 31/12/94. These sales were based on a 22% markup. If branch expenses were N34,400 and there were no discrepancies, what should be the profit of the branch for the period?

The Asa branch of Emene company Ltd, made a sales of N549,000 from the goods sent from the head office during the period ended 31/12/94.

These sales were based on a 22% markup. If branch expenses were N34,400 and there were no discrepancies, what should be the profit of the branch for the period?

A N6,500
B N64,600
C N85,380
D N514,600

jamb 1995 accounting

The correct answer is C. N85,380

No explanation given

Previous question Next question