(a)[1]
Calculate the gross profit of the business for the year ended 31 December 2023.
(b(i))[3]
Calculate purchases for the year ended 31 December 2023.
(b(ii))[4]
Calculate the value of goods Zahid took for his own use.
(c)[12]
Prepare an extract from the statement of profit or loss for the year ended 31 December 2023, beginning with the gross profit calculated in (a).
(d)[3]
Explain, with reference to an accounting concept, why Zahid made adjustments to his income and expenses when preparing the statement of profit or loss.
(e)[7]
Advise Zahid which option he should select. Support your response by weighing up the advantages and disadvantages of each option.