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Income Earned Assignment | Homework For You

Author:
May 26th, 2020

Siyeza Traders is an enterprise that sell motor vehicles in the ordinary course of business at a
mark-up of 45% on cost. During the current financial period, Siyeza Traders sold eight motor
vehicles for a cash price of R80 000 each (15% VAT inclusive). Round your answer off to the
nearest Rand.Homework For You
1. Income earned from the sale of motor vehicles will be classified under … in the statement
of profit or loss and other comprehensive income.
(1) Other income
(2) Profit on sale of motor vehicle
(3) Revenue
(4) Gains
(5) Finance income. Get Finance homework help today

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