Edexcel IGCSEAccountingGeneral Applications3 Marks
Banu owns a business selling household appliances. She provided the following information for her business for the year ended 31 March 2020. | Item | 31 March 2019 (\) | 31 March 2020 () | |:---|:---|:---| | Non-current assets | 150 000 | 180 000 | | Inventory | 20 000 | 25 000 | | Trade receivables | 18 000 | 22 000 | | Trade payables | 15 000 | 19 000 | | Cash | 5 000 | 3 000 | | Bank | 2 000 (overdraft) | 4 000 (overdraft) | | Loan (repayable 2023) | 30 000 | 30 000 | Additional information During the year Banu introduced additional capital of \$10 000. (c) Calculate the profit for the year ended 31 March 2020.
- (c)Calculate the profit for the year ended 31 March 2020.[3]
Mark scheme
Marking points from the official mark scheme. The mark or mark type is shown in brackets.
- M1 for Capital at 31 March 2020 (from (b)) – Capital at 31 March 2019 (from (a)) (1)
- M1 for less additional capital (1)
- A1 for 21 000 (1)
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