Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 3.00

Sea Traders Company

A6.1 [S] On 1 May the Sea Traders Company purchased 200 spare parts for fishing boats, costing £20 each. On 5 May, 60 of these spare parts were sold to a customer at a price of £25 each. The customer paid in cash  immediately.

(a)      Calculate the profit made on this  transaction.

(b)      Explain the impact of each transaction on the accounting   equation.

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 12:08 PM My Price 3.00

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