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Paper 2 · November 2015 · Limited Companies

K. Kudakwashe had sales of $1 950 000 and returns inwards of $150 000 for the year ended 31 December 2014. What was the turnover for the year?

A$1 650 000

B$1 800 000

C$1 950 000

D$2 100 000

Explanation

Turnover = Sales - Returns inwards = $1 950 000 - $150 000 = $1 800 000.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, November 2015, Q4

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