6A Ng Sau ping (19) 6A Chan Lai Fong (2) 6A Lau Tsz Ying (12) 6A Lee Chui Ying (14)

 Sources: Goods from Japan Selling price : $15 per each  Cost:$10 per each (excluding delivery charges)  Locating : Wan Chai  Goods: Clock  Description: The clocks have different shape and colour, such as robot.  Chan, Lau, Lee, Ng entered into a joint venture which sell clock and agreed to share profits and losses in the ratio of 2:1:1:2. Also, Lee and Lau would be agreed to have a commission 5% on sales made by their own.

 2002  Jan 1 Ng bought goods at a cost of $39800,she accepted a bill of exchange for one month.  Jan 2 Ng paid the delivery charges of $500 by cash.  Jan 5 Chan bought good at cost of $40000 by cash.  Jan 16 Ng send half of her goods to Lee.  Jan 21 Lau paid rent $869.  Jan 27 Lau bought goods at cost $50200 on credit. a bill of $50000 was accepted for one month. $200 was trade discounts.  Jan 30 Goods costing $4500 were stolen in the shop. One- third of the loss was paid by Lee, and the remaining half of loss was paid by Ng.

 Feb 1 Lee paid the Ng’s bill and bought goods which cost $14000 by cash.  Feb 4 Chan returned goods costing $10000 to the supplier and full allowance on the returned goods was given.  Feb 10 One-third of Lee’s goods are sold at selling price for cash.  Feb 14 Lau also sold half of her goods on credit. A bill of $30000 was accepted by a debtor for one month.The remaining balance is received.  Feb 21 Ng paid wages of $2500.  Feb 27 Lau’s bill was paid.  Feb 28 Chan bought goods at cost $40800 by cheque and paid the delivery charges of $1000.

 Mar 4 Some of goods sold by Lau were returned and returned $5000 to the customers.  Mar 14 The bills receivable was honoured on maturity.  Mar 20 All Ng’s goods are sold for cash at selling price.  Mar 25 Lee agreed to take over the returned goods at a value of $4200.  Mar 30 All goods are sold for $55000, the sales proceeds were kept by Chan.  Mar 31 The sum required in full settlement between Chan, Lau, Lee, Ng was paid.

Here are some questions! Can you do them?

Question 1 What is the mark-up? 1/2 1/3 1/4 1/5

Are you sure ??? It is the final answer??? Press me Yes Press me No

Yeah~~~ BINGO Press me

Oh~~~ you are wrong !!!~~~ The answer is (a) 1/2 Press me

Question 2 What is the profit margin???~~~ 1/2 1/3 1/4 1/5

Yeah~~~ BINGO Press me

Oh~~~ You are wrong!!!~~~ The answer is (b) 1/3 Press me

Question 3 How much profit did the joint venture earned???

Are you sure??? Yes No

O..Yeah!!~~ You are right Press me

O…Sorry~~ You are wrong!!!~~ ★ The answer is ★ Press me

Question 4 Who get the great profit? Chan & Lau Ng & Lee Chan & Ng Lau & Lee

RIGHT~~~Viva Press me

Sorry… Your are WRONG ＊ The answer is Chan & Ng ＊ Press me

Yeah~~~ Give me five~~~ Bingo Press me

Question 5 Who made the greatest amount of sales??? Chan Lau Lee Ng

Sorry Let’s try again!!!~~~ §The answer is Chan§ Press me