A-LevelAccountingPreparation of financial statements9706/12 · May/June 2016 · Q101 Mark

Katrina commenced business on 1 January 2015. For the year ended 31 December 2015, the following information is available. drawings $53500 profit for the year 62700 revenue 1500000 expenses 875000 What was the cost of sales for the year?

A$562300

B$571500

C$678000

D$687700

✓ Correct answer

A: $562300

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2016 Paper 1 Variant 2, question 10.

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