A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2013 · Q141 Mark
The following departmental accounts have been prepared for a limited company for the year ended 30 September 2013. department X $ department Y $ revenue 810000 515000 cost of sales 470000 265 000 gross profit 340 000 250 000 overheads 210000 295 000 profit/(loss) for the year 130000 (45000) The following errors have been found. 1 Department X overheads include $10 000 for the purchase of goods for resale of department X. 2 Revenue of $40 000 has been credited to department X when it should have been credited to department Y. What is the corrected profit for the year for department X?
A$80000
B$90.000
C$100000
D$170000
✓ Correct answer
B: $90.000
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