A-LevelAccountingPreparation of financial statements9706/12 · May/June 2015 · Q91 Mark
A business has extracted the following information from its books of account at 31 December 2014, its first year of trading. $000 carriage inwards 12 carriage outwards 15 closing inventory 86 purchases 286 returns inwards 10 returns outwards 2 revenue 524 What is the gross profit for the year ended 31 December 2014?
A$301000
B$304000
C$320000
D$328.000
✓ Correct answer
B: $304000
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.
Sign up free →