Question 1 of 8Final accounts of a sole trader
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S. Kamwendo's Trading and Profit and Loss Account for the year ended 31 December 2009 showed a gross profit of $42 600, other income of $90, and total expenses of $35 610. What was the net profit for the year?
In S. Kamwendo's Statement of Financial Position as at 31 December 2009, the non-current assets were Equipment (net book value $43 740) and Motor vehicles (net book value $4 800). What was the total net book value of non-current assets?
Chiedza Fashion Boutique's Income Statement for the year ended 31 December 2014 showed an adjusted gross profit plus other income of $499 848, and total expenses of $226 294. What was the net profit for the year?
In Chiedza Fashion Boutique's Statement of Financial Position as at 31 December 2014, non-current assets totalled $331 480 and current assets totalled $112 130. What was the total assets figure?
M. Mekia's assets on 1 April 2016 were: Bank $3 500, Inventory $6 600, Motor vehicles $16 000, Trade receivables $14 200, General expenses prepaid $100. Liabilities were: Trade payables $4 200, Loan $10 000, Rent accrued $400. Calculate the capital on 1 April 2016.
On 1 April 2016 M. Mekia's Bank balance was $3 500, Inventory $6 600, Motor vehicles $16 000, Trade receivables $14 200 and General expenses prepaid $100. Calculate the total assets on that date.
P. Maradza's trial balance at 31 May 2020 showed Sales $127 900 and Sales returns $2 400. Calculate the turnover (net sales) for the year.
P. Maradza's turnover for the year ended 31 May 2020 was $125 500. Opening inventory was $26 900, purchases were $81 200 and closing inventory was valued at $27 500. Calculate the gross profit for the year.
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