A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2019 · Q111 Mark

A sole trader had the following transactions. $ returns outwards 2750 carriage inwards 4820 goods for own use 1460 What was the total effect of these transactions on the cost of sales?

A$610 increase

B$3530 increase

C$6110 decrease

D$9030 decrease

✓ Correct answer

A: $610 increase

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.

About this question

Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2019 Paper 1 Variant 2, question 11.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

Preparation of financial statementsFeb/Mar 20161m

A business provides the following information. gross margin 20% $ sales 275325 opening inventory 25450 closing invent…

Preparation of financial statementsFeb/Mar 20161m

A company provided the following information. material units cost per unit $ opening inventory 100 2.00 receipt of ne…

Preparation of financial statementsFeb/Mar 20171m

The following balances related to Ladha's business. At 31 March 2016: total assets $388000, total liabilities $84000…

Traditional costing methodsFeb/Mar 20161m

A production centre uses 20000 machine hours and 17000 labour hours each month. Which formula is used to calculate th…

Traditional costing methodsFeb/Mar 20161m

The following information is available. budget actual overheads $60000 $66 000 direct labour 30 000 hours 35 000 hour…

Traditional costing methodsFeb/Mar 20161m

A particular cost is classified as 'semi-variable'. What effect will a 20% reduction in activity have on the unit cost?

← Browse all past-paper questions