Question 1 of 3Accounting ratios and limited company accounts
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K. Kudakwashe had sales of $1 950 000 and returns inwards of $150 000 for the year ended 31 December 2014. What was the turnover for the year?
K. Kudakwashe's turnover for the year ended 31 December 2014 was $1 800 000, and the gross profit margin was 33 1/3% of turnover. What was the gross profit for the year?
Kwaedza Limited's net profit for the year ended 31 December 2013 was $436 000. After transferring $200 000 to the General Reserve and providing dividends totalling $225 000 (preference $120 000, ordinary interim $65 000, ordinary final $40 000), what was the retained profit for the year (before adding the opening Profit and Loss balance of $270 000)?
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