Accounting Multiple Choice Question – 8 September 2022

The following information is taken from the paperclip account of a business.

• stock of paperclips at beginning of the year – £600
• cash paid for paperclips during the year – £7,000
• invoice not yet received for paperclips – £480
• stock of paperclips at end of year – £800

How much should be debited to the Profit and Loss Account for paperclips?

Select ONE answer:

1. £6,680
2. £6,800
3. £7,280
4. £8,080

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – £7,000 + £600 +£480 – £800
4. Not correct

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