Find other comprehensive income as an amount of

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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.

Question 1: Income earned from the sale of motor vehicles will be disclosed in the statement of profit or loss and other comprehensive income as an amount of ... .

Option (1) R640 000

Option (2) R441 379

Option (3) R544 000

Option (4) R556 520

Option (5) R352 000

Reference no: EM132505851

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