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Paper 2 · Departmental accounts, correction of errors and bank reconciliation

Thokozani Sibanda's Furniture department had a turnover (sales less returns inwards) of 900000andcostofsalesof900 000 and cost of sales of 600 000 for the year ended 31 December 2014. What was the Furniture department's gross profit?

A$300 000
B$380 000
C$600 000
D$900 000
Explanation: 900000900 000 - 600 000 = $300 000.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, November 2015, Q3

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