Waec Model Questions Vol1 2018 Financial Accounting Question 28
Practice objective / multiple choice question 28 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
A trader's books are incomplete. The following information is available for the year ended 31 December:\n\n1. Opening Stock: ₦25,000.\n2. Closing Stock: ₦30,000.\n3. Cash book shows: opening balance ₦10,000, cash receipts ₦120,000, cash payments ₦95,000, closing balance ₦35,000.\n4. The gross profit ratio (Gross Profit : Sales) is 25%.\n5. Cash purchases during the year amounted to ₦40,000.\n6. The Debtors ledger shows a closing balance of ₦20,000; the opening balance was zero.\n7. No returns were recorded.\n\nDetermine the total Sales for the period.
Answer Options
About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 28. It is one of the objective questions from the 2018 Waec Model Questions Vol1 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.