O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2018 · Q141 Mark
A draft income statement showed a gross profit of $12200. It was later found that carriage on purchases, $260, and carriage on sales, $230, had both been included as expenses in the profit and loss section of the income statement. What was the corrected gross profit?
A$11710
B$11940
C$12460
D$12690
✓ Correct answer
B: $11940
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