Gce Model Questions Vol1 2021 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
The following information is available for ABC Ltd for the year ended 31 March: Sales \(250{,}000\); Opening inventories \(30{,}000\); Closing inventories \(45{,}000\); Purchases \(120{,}000\); Carriage inwards \(5{,}000\); Salaries expense \(40{,}000\); Interest expense \(3{,}000\); Tax expense \(12{,}000\). Plant cost is \(80{,}000\) with a residual value of \(8{,}000\) and a useful life of 8 years. Accumulated depreciation at the beginning of the year was \(24{,}000\). Determine the profit for the year before tax.
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About This Question
This is Gce Model Questions Vol1 2021 Financial Accounting Question 37. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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