Waec Model Questions Vol1 2018 Financial Accounting Question 41
Practice objective / multiple choice question 41 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
A company's trial balance for the year ended 31 December 2018 shows the following balances (all figures in ₦): Sales 1,200,000; Opening Stock 150,000; Purchases 720,000; Closing Stock 180,000; Operating Expenses 200,000; Interest Expense 30,000. The following items have not been recorded: depreciation on equipment ₦40,000; provision for doubtful debts equal to 5 % of trade receivables, where trade receivables amount to ₦80,000; and income tax at 30 % of profit before tax. Compute the net profit after tax for the year.
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 41. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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