Gce Model Questions Vol1 2023 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Using the following trial‑balance extracts for the year ended 31 March, compute the net profit. Sales \(120,000\); Purchases \(70,000\); Opening Stock \(15,000\); Closing Stock \(18,000\); Equipment cost \(25,000\) (depreciated at 10 % per annum); Salaries \(20,000\); Rent \(5,000\); Interest on loan \(2,000\); Other expenses \(3,000\).
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This is Gce Model Questions Vol1 2023 Financial Accounting Question 46. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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