A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2017 · Q121 Mark

The following information is available for the year ended 31 December 2016. [Table: revenue $75000, purchases $32000, carriage inwards $5400, carriage outwards $4500, inventory at 1 January 2016 $6300, inventory at 31 December 2016 $7600] What was the gross profit for the year ended 31 December 2016?

A$36 300

B$37 200

C$38 900

D$39800

✓ Correct answer

C: $38 900

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2017 Paper 1 Variant 2, question 12.

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