Acca financial Accounting (FA) Study Text ac ca (FA)

What were the purchases of the shop for the year? 

A $11,450 

B $12,750 

C $14,900 

D $10,600 

90  The following information is relevant to the calculation of the sales figure 

for Alpha, a sole trader who does not keep proper accounting records: 

 $ 

 

Opening receivables 

29,100 

Cash received from credit customers and paid into the bank 

381,600 

Expenses paid out of cash received 6,800 from credit 

customers before banking 

6,800 

Irrecoverable debts written off 

7,200 

Refunds to credit customers 

2,100 

Contra with payables ledger control account 

9,400 

Cash sales 

112,900 

Closing receivables 

38,600 

What figure should be included in Alpha’s statement of profit or loss 

for sales revenue? 

$________ 

 

91  A sole trader who does not keep full accounting records wishes to 

calculate her sales revenue for the year. 

The information available is: 

1 

Opening inventory  

$17,000 

2 Closing 

inventory 

 

$24,000 

3 Purchases 

 

$91,000 

4 

Standard gross profit percentage   40% on sales revenue