Question 44

Use the following to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Opening stock} & 1,200 & sales & 29,000 \\ Purchases & ? & \text{Less sales returns } & 500 \\ \text{Add. Carriage Inwards} & 300 & & ? \\ \text{Less return outwards} & 1,570 \\ & 28,500 \\ \text{Less closing stock} & 2,220 & \\ \text{Gross Profit(25% of sales)} & 28,500 & & 28,500 \end{array}\)
The goods profit is

  • A.N7,425
  • B.N7425
  • C.N7,625
  • D.N7,925
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
1994
Question no.
#44
Type
Objective

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