Gce Model Questions Vol1 2023 Financial Accounting Question 41
Practice objective / multiple choice question 41 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
The trial balance of XYZ Ltd shows the following balances (all amounts in \(\pounds\)): Sales \(150,000\), Purchases \(80,000\), Opening Stock \(20,000\), Closing Stock \(25,000\), Salaries \(30,000\), Rent \(12,000\), Machinery cost \(50,000\) with accumulated depreciation at the start of the year \(8,000\). Depreciation is charged at \(10\%\) per annum on the cost of machinery. Prepare the adjusted profit figure for the year.
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About This Question
This is Gce Model Questions Vol1 2023 Financial Accounting Question 41. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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