Gce Model Questions Vol1 2017 Financial Accounting Question 50
Practice objective / multiple choice question 50 from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
A sole trader's incomplete records for the year ended 31 December show: Sales £250,000; Opening Stock £30,000; Closing Stock £35,000; Rent £20,000; Depreciation on plant £12,000; Interest on loan £5,000; Drawings £15,000; Capital at the beginning of the year £80,000; Capital at the end of the year £95,000. The trial balance is missing the figures for Purchases, Salaries, Rent, Depreciation, Interest and Drawings. It is known that Purchases were 45 % of Sales. Using the information provided, determine the amount that should be recorded for Salaries expense.
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About This Question
This is Gce Model Questions Vol1 2017 Financial Accounting Question 50. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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