O-LevelAccountingPreparation of financial statements7707/11 · May/June 2019 · Q161 Mark
Fatima opened a department store on 1 January 2018. She provided the following information on 31 December 2018. department X $ department Y $ revenue 100000 60 000 sales returns 14000 8000 purchases 80000 40000 carriage outwards – 1000 carriage inwards 5000 – At 31 December 2018 inventory was valued at $16000 of which 75% related to department X. What was the gross profit of department Y?
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
A$15000
B$16000
C$23000
D$24000
✓ Correct answer
A: $15000
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