Neco 2025 Financial Accounting Question 38
Practice objective / multiple choice question 38 from the 2025 Neco Financial Accounting examination.
The following data relate to a company for the year ended 31 December. Sales (total) = 800,000 Opening Stock = 120,000 Purchases = 400,000 Carriage Inwards = 10,000 Closing Stock = 150,000 Salaries = 80,000 Rent = 20,000 Machinery cost = 100,000 (depreciated at 5% p.a.) Loan amount = 200,000 (interest rate 6% p.a.) Bad debts written off = 5,000 Discount allowed = 4,000 Discount received = 3,000 Gain on sale of equipment = 12,000 Owner's capital = 300,000 Calculate the net profit for the year and express it as a percentage of the owner's capital.
Answer Options
About This Question
This is Neco 2025 Financial Accounting Question 38. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.