Gce Model Questions Vol1 2022 Financial Accounting Question 44
Practice objective / multiple choice question 44 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Given the following trial balance figures for the year: Sales £(120000), Opening Stock £(20000), Purchases £(70000), Closing Stock £(25000), Carriage Inwards £(2000), Salaries £(15000), Rent £(5000), Interest Received £(1200). Machinery cost £(30000) with a residual value of £(5000) and a useful life of 5 years (straight‑line depreciation). No other adjustments are required. Calculate the net profit for the year.
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About This Question
This is Gce Model Questions Vol1 2022 Financial Accounting Question 44. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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