Accounting 0452 · IGCSE · Incomplete records

Incomplete records — practice question

Chan gave the information below. 1 October 2021 / 30 September 2022 non-current assets: $10000 / $12000 inventory: $2500 / $2000 trade receivables: $1500 / $1300 bank overdraft: $800 / $900 trade payables: $1000 / $1900 What was Chan’s profit or loss for the year?

  • A$300 loss
  • B$300 profit
  • C$500 loss
  • D$500 profit

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