A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2020 · Q111 Mark
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?
A$55 200
B$55 500
C$56 700
D$57800
✓ Correct answer
A: $55 200
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