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What was the reported profit for the year ended

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Holidays Ltd manufactures caravans. Transactions for the year ended 30 June 2019 were as follows:

i. 600 caravans were manufactured at a cost of $15 000 each.

ii. 500 caravans were sold for $20 000 each.

iii. Cash was collected on 475 of the caravans sold.

Question 1: What was the reported profit for the year ended 30 June 2019 if revenue was recognised when cash was received?

Reference no: EM132482545

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