The following information has been extracted from the trial balance of a business: Closing stock was $3000

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The following information has been extracted from the trial balance of a business:

Closing stock was $3000 more than opening stock.

One third of the wages was charged to cost of sales in the Trading Account. What was the gross profit?

A. $30 000

B. $33 000

C. $36 000

D. $37 000

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 27, 2023 09:16 AM

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The following information has been extracted from the trial balance of a business: Closing stock was $3000

Question:

Sales Purchases Wages $ 100 000 60 000 21 000

Step by Step Answer:

To calculate the gross profit we need to use the formula Gross Profit Sales C...View the full answer

Accounting A Level And AS Level

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