O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2019 · Q211 Mark

After preparing her income statement Emma found that: 1 a bad debt, $1500, should have been written off 2 no adjustment had been made for rent prepaid by her of $2800. The draft profit for the year was $35000. What was the profit for the year after these adjustments?

A$30 700

B$33700

C$36 300

D$39 300

✓ Correct answer

C: $36 300

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 2, question 21.

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After preparing her income statement Emma found that: 1 a bad debt, $1500, should have been written off 2 no adjustment had been made for rent prepaid by her of $2800. The draft profit for the year was $35000. What was the profit for the year after these adjustments?

✓ Correct answer

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