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Use the following information to answer the question The following transactions relate to Osei Enterprises...

Accounts - Principles of Accounts
WAEC 2023

Use the following information to answer the question

The following transactions relate to Osei Enterprises for the year ended 31st December 2020.

 

   D
 Purchases  160,000
 Returns outwards  880
 Carriage inwards  740
 Returns inwards  620
 Sales  195,000

 Salaries

  27,600

 Closing stock

  14,100


The net profit is

  • A. D 21, 760
  • B. D 18, 260
  • C. D 21, 020
  • D. D 21, 620
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Correct Answer: Option C
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free