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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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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789