Question 11 5 Points An enterprising individual purchased 50 greeting cards for 210 (.e. 4.20 each). She later managed to sell 40 cards for 250 (l.e. 6.25 each). What is her trading profit on greetings cards? 42 B) E40 50 D E82 5 Points Question 12 An enterprising individual purchased 60 greetings cards for 240 (l.e. 4 each). He later managed to sell 50 cards for 280 (l.e. 5.60 each). What is his trading profit on greetings cards? . A 90 B E70 C E8O 0 60 Question 13 5 Points A provision for doubtful debts is to be increased at the end of an accounting period. The journal entry required for this accounting adjustment is: Debit - Provision for doubtful debts a/c (SOFP): Credit - Bad debts a/c (15) Debit - Bad debts a/c (IS): Credit Bank a/c (SOFP) Debit - Purchases a/c (IS): Credit - Bad debts a/c (15) Debit - Bad debts a/c (1S): Credit - Provision for doubtful debts a/c (SOFP) 5 Points Question 15 May is a sole trader and has assets of 500,000 and liabilities of 200,000 as at 1 January 2018. During the year ended 31 December 2018 she paid 150,000 capital into the business and she took drawings of 700 per month. At 31 December 2018, May had assets of 580,000 and liabilities of 180,000. What is May's profit for the year ended 31 December 2018? 40,800 B 40,600 41,500 E41,600