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Paper 2 · November 2023 · Final Accounts

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.

Model answer

$125 500

Also accepted: 125500, 125 500

Explanation

Turnover = Sales less Sales returns = 127 900 - 2 400 = $125 500.

Derived from ZIMSEC Principles of Accounting 4051/2 Paper 2, November 2023, Q1

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More questions from this paper

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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