Gce Model Questions Vol1 2018 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
The following figures are extracted from a trial balance (all amounts in £): - Sales: \(45{,}000\) - Opening Stock: \(5{,}000\) - Purchases: \(20{,}000\) - Closing Stock: \(6{,}500\) - Carriage Inwards: \(800\) - Carriage Outwards: \(600\) - Salaries: \(7{,}200\) - Rent: \(2{,}400\) Two adjustments have not been recorded: 1. Discount received of \(500\). 2. Depreciation expense of \(1{,}200\). Prepare the income statement and state the net profit for the period.
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About This Question
This is Gce Model Questions Vol1 2018 Financial Accounting Question 15. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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