Let's break down the given values and calculate each unknown amount and percentage for Businesses B and C.
Given Data:
For Business B:
- Opening stock: 50,000
- Purchases: 120,000
- Carriage on purchases: 7,500
- Cost of goods available for sale: D
- Closing stock: E
- Cost of sales: 135,500
- Gross profit: 542,007
- Sales: F
- Gross profit on cost of sales:
- Gross profit on turnover:
For Business C:
- Opening stock: 48,000
- Purchases: 115,000
- Carriage on purchases: H
- Cost of goods available for sale: 169,000
- Closing stock: 1
- Cost of sales: 130,000
- Gross profit: J
- Sales: 208,000
- Gross profit on cost of sales: K
- Gross profit on turnover: L
Step-by-Step Calculations:
For Business C:
1. Carriage on Purchases (H):
The value of H is determined by:
[tex]\[
H = 7500
\][/tex]
2. Closing Stock (1):
The cost of goods available for sale is given by:
[tex]\[
\text{Cost of goods available for sale} = \text{Opening stock} + \text{Purchases} + \text{Carriage on purchases}
\][/tex]
We have the cost of goods available for sale directly as 169,000. Therefore, the closing stock can be calculated as:
[tex]\[
\text{Closing stock} = \text{Cost of goods available for sale} - \text{Cost of sales}
\][/tex]
Given the cost of sales is 130,000:
[tex]\[
1 = 169,000 - 115,000 - 7500 = 46,000
\][/tex]
3. Gross Profit (J):
Given the sales:
[tex]\[
\text{Gross profit} = \text{Sales} - \text{Cost of sales}
\][/tex]
Therefore:
[tex]\[
J = 208,000 - 130,000 = 78,000
\][/tex]
4. Gross Profit on Cost of Sales (K):
This ratio is calculated as:
[tex]\[
K = \frac{\text{Gross profit}}{\text{Cost of sales}}
\][/tex]
Substituting the known values:
[tex]\[
K = \frac{78,000}{130,000} = 0.6
\][/tex]
5. Gross Profit on Turnover Percentage (L):
This percentage is calculated as:
[tex]\[
L = \left(\frac{\text{Gross profit}}{\text{Sales}}\right) \times 100
\][/tex]
Therefore:
[tex]\[
L = \left(\frac{78,000}{208,000}\right) \times 100 = 37.5\%
\][/tex]
After performing these calculations, we have the following results:
1. Carriage on Purchases (H): 7,500
2. Closing Stock (1): 46,000
3. Gross Profit (J): 78,000
4. Gross Profit on Cost of Sales (K): 0.6
5. Gross Profit on Turnover (L): 37.5%
These calculations are based on the values provided and the formulas used to derive the unknown quantities and percentages from the data given.
