JAMB - Accounts Principles Of Accounts (1995 - No. 37)
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% mark up. If branch expenses were N34,400 and there were no discrepancies, what should be the profit of the branch for the period?
N6,500
N64,600
N85,380
N514,600
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