Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

The information below relates to a sole trader’s business at the end of the financial year. cost of sales: $\$540\,000$ expenses: $\$325\,000$ profit for the year: $\$63\,000$ sales returns: $\$30\,000$ What was the total sales figure for the year?

  • A$\$865\,000$
  • B$\$895\,000$
  • C$\$928\,000$
  • D$\$958\,000$

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