A-LevelAccountingIncomplete RecordsMay/June 2014Paper 1 Q121 Mark
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?
A$27566
B$36 135
C$36593
D$43912
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of incomplete records within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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