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2011_fac1502_test_four_week_seven

2011_fac1502_test_four_week_seven - 5 400 Purchases Returns...

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FAC1502 TEST FOUR WEEK SEVEN Page 1 of 1 1 st Semester 2011 QUESTION (15 marks) (18 minutes) The following information for the year ended 31 March 2009 relates to Jumbo Traders: Inventory (1 April 2008) 60 000 Purchases 84 000 Railage on purchases 3 000 Sales 120 000 Railage on sales
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Unformatted text preview: 5 400 Purchases Returns 9 000 Sales Returns 7 500 ADDITIONAL INFORMATION The gross profit mark-up on cost is 25%. REQUIRED 1. 1. Calculate the Inventory balance as at 31 March 2009. 2. Draw up the Trading Account of Jumbo Traders as at 31 March 2009....
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