O-LevelAccountingAccounting procedures7707/12 · May/June 2025 · Q261 Mark

A tennis club sells refreshments on match days. At the end of the first accounting period, the receipts and payments account included the following: receipts from sales of refreshments: $2300 payments to suppliers of refreshments: $1400 wages paid: $300 Refreshments which were unsold at the end of the year cost $200. A bill for refreshments purchased of $75 had not been paid. What is the profit from sale of refreshments to be included in the income and expenditure account?

A$600

B$725

C$800

D$875

✓ Correct answer

B: $725

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2025 Paper 1 Variant 2, question 26.

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