Urgently needed please

K_ Which of the following are not part of the income statement (profit and loss account)?

ASales

BGross profit

CDebtors

DRent

(2 marks)

2.2Which of the following are not part of the balance sheet?

APrepayments

BShort-term loans

CInterest

DCreditors

(2 marks)

2.3Which of the following is not part of the statement of movements on capital?

ACapital at the start of the period

BNet profit earned in the period

CFixed assets

DCapital at the end of the period

(2 marks)

2.4Which does not form part of cost of goods?

AClosing stock

BSales

COpening stock

DPurchases

(2 marks)

2.5 Sales 5,000, Purchases 3,000, Closing stock 2,000, Opening stock 400. Calculate gross profit/(loss)?

A3,600 Profit

B400 Loss

C10,400 Profit

D4,400 Loss

(2 marks)

2.6If the gross profit is 4,300, calculate net profit after the following transactions:

Rent 1,000

Interest 300

Rent received 200

A3,000 profit

B3,200 profit

C5,600 profit

D5,800 profit

(2 marks)

2.7 An increase in stock of 500, a decrease in the bank balance of 800 and an increase in creditors of 2,400 results in

Aa decrease in working capital of 2,700

Ban increase in working capital of 2,700

Ca decrease in working capital of 2,100

Dan increase in working capital of 2,100

(2 marks) 2.8The accounting equation at the start of the month was

Assets 14,000 less liabilities 6,250. During the month the following transactions took place: the business purchased a fixed asset for 3,000, paying by cheque, a profit of 3,500 was made and creditors of 2,750 were paid by cheque. Calculate the capital at the start of the month?

A7,750

B11,500

C5,500

D8,250

(2 marks)

2.9 A sole trader has opening capital of 20,000 and closing capital of 9,000. During the period, the owner introduced capital of 8,000 and withdrew 16,000 for her own use. Calculate her profit or loss during the period?

A21,000 loss

B3,000 profit

C3,000 loss

D21,000 profit

(2 marks)

2.10The profit of a business may be calculated by using which one of the following formula?

AOpening capital Drawings Capital introduced Closing capital

BOpening capital Drawings Capital introduced Opening capital

COpening capital Drawings Capital introduced Closing capital

DClosing capital Drawings Capital introduced Opening capital

(2 marks)