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Determine the effect on the balance sheet after the following transaction. You sell a product purchased for $500 for $1500. This means
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Determine the effect on the balance sheet after the following transaction. You sell a product purchased for $500 for $1500. This means

User James Oravec
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5 votes
You have made a profit of 300% (500=100% therefore 500*3=1500 =300%)
You have also made £1000 profit
User Carl Goldsmith
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2 votes
You gained $1000 dollars from over pricing an item. Therefore you made profit which the sum was $1000.
User Jxh
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6.7k points
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