A sole trader has not maintained proper books of account. The following information is available relating to trade receivables for the year ended 30 June 2016.
What is the value of credit sales for the year ended 30 June 2016?
Select ONE answer:
- £196,000
- £200,000
- £210,000
- £212,000
- £214,000
Show your workings to arrive at your answer, and explain and justify your reasons?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This is multiple choice question is suitable for Accounting KS5 classes.
The answer is 3 – The calculation is as follows: Receipts from trade receivables £205,000 + Sales Returns £7,000 + Trade Receivables at 30 June 2016 of £12,000 – Trade Receivables at 1 July 2015 of £14,000
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