A sole trader makes a profit for the year of $31000, after taking the following items into account.
carriage inwards 2600
decrease in provision for doubtful debts 1500
discount received 2000
other expenses 28000
profit on disposal of non-current asset 300
What was the gross profit for the year?

Q: What topic does this question test?

This question tests Income Statement (Sole Traders) in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Q: Which exam paper is this question from?

This question appeared in the Cambridge A-Level Accounting Feb/Mar 2020 examination, Paper 1 Variant 2 (9706_m20_qp_12.pdf).

Question

A sole trader makes a profit for the year of $31000, after taking the following items into account.
carriage inwards	2600
decrease in provision for doubtful debts	1500
discount received	2000
other expenses	28000
profit on disposal of non-current asset	300
What was the gross profit for the year?

Oracle Prep · Accepted Answer

The correct answer is A: $55 200.

A sole trader makes a profit for the year of $31000, after taking the following items into account. carriage inwards 2600 decrease in provision for doubtful debts 1500 discount received 2000 other expenses 28000 profit on disposal of non-current asset 300 What was the gross profit for the year?

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