Question
A trader who commenced business on 1 January Year 9 reports the purchases and sales for the year to 31 December Year 9 as 430,000
A trader who commenced business on 1 January Year 9 reports the purchases and sales for the year to 31 December Year 9 as
430,000 and 688,400 respectively. The total administration expenses were 112,200 and interest payable was 2,500.
The cost of goods remaining unsold at the year end was 73,400.
What is the operating profit in the first year of operation?
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Fraud Examination
Authors: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman
5th edition
1305079140, 978-1305079144
