A-LevelAccountingFinancial Statements of Sole TradersMay/June 2015Paper 1 Q151 Mark
DEC Limited has produced the following information for the current financial year. department X department Y $ $ revenue 54 000 26000 cost of sales 23700 16600 gross profit 30 300 9400 The rent and insurance of buildings total is $13000. Heating and lighting total is $12500. The floor area occupied by each department: X 60%, Y 40%. What is the profit or loss for the year for department Y?
A$800 loss
B$5900 loss
C$15000 profit
D$20 100 profit
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of financial statements of sole traders within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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