O-LevelAccountingAnalysis and interpretationOct/Nov 2019Paper 2 Q420 Marks
Rani is in business buying and selling goods on credit. She provided the following information. At 1 October 2017 $ Capital 75000 Bank loan (repayable 2023) 40000 For the year ended 30 September 2018 Expenses 65000 Profit for the year 15000 Mark-up 25% Rani did not make any drawings during the year. REQUIRED Rani is concerned about the level of her profitability. She decided to increase the mark-up to 50% on her goods for the year ended 30 September 2019. The following information is available for the year ended 30 September 2019. $ Purchases 212000 Expenses 60000 Inventory at 1 October 2018 36000 Inventory at 30 September 2019 28000
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