Question 11

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} & 1,350 \\ \text{Creditors- 1/01/2004} & 1,274 \\ \text{Creditors- 31/12/2004} & 1,140\\ \text{Cash paid to creditors} & 6,900\\ \text{Debtors 1/01/2004} & 465\\ \text{Cash received from debtors} & 11,130 \\ \text{Debtors 31/12/2004} & 300\end{array}\)
Gross profit for the year was

  • A.₦4,650
  • B.₦4,200
  • C.₦3,750
  • D.₦2,400
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2007
Question no.
#11
Type
Objective

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