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  • Long Assignment - Minglana

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    Mitch Tokong Minglana
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    Long Assignment- Minglana

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    22 views1 page

    Long Assignment - Minglana

    Uploaded by

    Mitch Tokong Minglana

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    MITCH T.

    MINGLANA
    BSA 301

    PROBLEM 1: Compute for the realized gross profit in 2022 on collections of 2022
    installment sales

    ANSWER AND SOLUTION:

    2020 2021 2022


    Gross Profit 300,000 225,000 140,000
    Installment Sales 750,000 600,000 400,000
    Gross profit rates based on 40% 37.5% 35%
    sales

    Collections in 2022 from:

    2020 sales: (125,000x40%) P50,000

    2021 sales: (180,000x37.5%) P67,500

    2022 sales: (275,000x35%) P96,250

    Total realized gross profit in 2022 P213,750

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