For the eleven months ended 31 August 2013, snack bar takings were correctly $109340. For September 2013, the snack bar takings were mixed up with other income, but the snack bar profit margin was 30%.
The table shows figures for the snack bar for September 2013.

$, opening inventory at cost 6303, purchases 8844, closing inventory at cost 7370

What was the gross profit of the snack bar for the year ended 30 September 2013?

Q: What topic does this question test?

This question tests Incomplete Records in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Q: Which exam paper is this question from?

This question appeared in the Cambridge A-Level Accounting May/June 2014 examination, Paper 1 Variant 2 (9706_s14_qp_12.pdf).

Question

For the eleven months ended 31 August 2013, snack bar takings were correctly $109340. For September 2013, the snack bar takings were mixed up with other income, but the snack bar profit margin was 30%.
The table shows figures for the snack bar for September 2013.

$, opening inventory at cost 6303, purchases 8844, closing inventory at cost 7370

What was the gross profit of the snack bar for the year ended 30 September 2013?

Oracle Prep · Accepted Answer

The correct answer is B: $36 135.

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