The Asa branch of Emene company Ltd, made a sales of N549,000 from the goods...
FINANCIAL
JAMB 1995
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?
- A. N6,500
- B. N64,600
- C. N85,380
- D. N514,600
Correct Answer: C. N85,380
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