O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2020 · Q231 Mark

A sports club provided the following information. $ subscriptions for the year 26 800 profit on sale of refreshments 4 200 depreciation 1500 rent and insurance 12600 wages 3200 What was the total income for the year?

A$15800

B$17300

C$22600

D$31000

✓ Correct answer

D: $31000

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.

About this question

Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2020 Paper 1 Variant 2, question 23.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

Preparation of financial statementsMay/June 20121m

Which group of items would appear in the capital and reserves section of a limited company balance sheet?

Preparation of financial statementsMay/June 20121m

Which statement is correct?

Preparation of financial statementsMay/June 201240m

Thien has a retail business. The following balances were extracted from his books at the end of his financial year on…

Accounting principles and policiesMay/June 20101m

Repairs to a motor vehicle were debited in error to the motor vehicles account. How does this affect the profit for t…

Verification of accounting recordsMay/June 20101m

The difference on a trial balance was entered in a suspense account. It was later found that the purchases returns jo…

Accounting proceduresMay/June 20101m

A sales ledger control account showed the following. $ opening debit balance 2000 sales 10 000 receipts from debtors …

← Browse all past-paper questions