Gce Model Questions Vol1 2019 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
The trial balance of a sole trader shows the following figures (all amounts in \(\,\text{₦}\)):\n\nSales \(120,000\)\nPurchases \(68,000\)\nOpening stock \(12,000\)\nClosing stock \(15,000\)\nCarriage inwards \(2,000\)\nSalaries \(8,000\)\nRent \(5,000\)\nMachinery cost \(40,000\) (depreciated at 10% p.a.)\nLoan \(6,000\) (interest charged at 5% p.a.)\nMiscellaneous expenses \(1,200\)\n\nIf the net profit for the year is required, calculate it.
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 32. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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