To solve the given problem, we need to perform the following steps:
1. Calculate the total purchases:
- Purchased merchandise from Bronkhorst Ltd: R35,000
- Purchased merchandise from Mogashoa Wholesalers: R105,000
- Delivery charges from Mogashoa Wholesalers: R1,000
- Returned merchandise to Mogashoa Wholesalers: R4,000
Total purchases = (Purchase from Bronkhorst) + (Purchase from Mogashoa) + (Delivery charges) - (Return to Mogashoa)
[tex]\[
\text{Total purchases} = 35,000 + 105,000 + 1,000 - 4,000 = R137,000
\][/tex]
2. Calculate the total sales:
- Sold goods on credit to N. Naidoo: R90,000
- Sold goods for cash: R30,000
- Returned goods from N. Naidoo: R1,200
Total sales = (Sales to Naidoo) + (Cash sales) - (Return from Naidoo)
[tex]\[
\text{Total sales} = 90,000 + 30,000 - 1,200 = R118,800
\][/tex]
3. Compute the cost of sales:
- Stock on hand at the beginning of June: R0 (it's not provided, assume R0 for calculation)
- Stock on hand at the end of June: R105,000
The formula for cost of sales is:
[tex]\[
\text{Cost of sales} = \text{Stock at beginning} + \text{Total purchases} - \text{Stock at end}
\][/tex]
[tex]\[
\text{Cost of sales} = 0 + 137,000 - 105,000 = R32,000
\][/tex]
4. Calculate the gross profit:
Gross profit is calculated as:
[tex]\[
\text{Gross profit} = \text{Total sales} - \text{Cost of sales}
\][/tex]
[tex]\[
\text{Gross profit} = 118,800 - 32,000 = R86,800
\][/tex]
Thus, the final results are:
- Total Purchases: R137,000
- Total Sales: R118,800
- Stock on hand at the beginning of June: R0
- Stock on hand at the end of June: R105,000
- Cost of Sales: R32,000
- Gross Profit: R86,800
