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Paper 2 · Departmental accounts

In J. Sithole's departmental accounts for the year ended 31 December 2011, the combined gross profit from the Furniture and Electrical departments was 72000.Afteraddingotherincomeof72 000. After adding other income of 2 500 and deducting total expenses of $51 900, what was the net profit for the year?

Model answer

$22 600

Also accepted: 22600, 22 600

Explanation: 72000+72 000 + 2 500 - 51900=51 900 = 22 600.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, November 2014 Specimen Paper, Q1

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