Question No 12:
P is a sole proprietor whose accounting records are incomplete. All the sales are cash sales and during the year $50,000 was banked, including $5,000 from the sale of a business car. He paid $12,000 wages in cash from the till and withdrew $2,000 per month as drawings. The cash in the till at the beginning and end of the year was $300 and $400 respectively.
What were the sales for the year?
A. $80,900
B. $81,000
C. $81,100
D. $86,100
Answer: C
No comments:
Post a Comment