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Calculate the sales amounted

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Q1. If the gross profit was RM10,000, the cost of goods sold was RM70,000 and carriage inwards was RM2,000. Calculate the sales amounted?

A. RM100,000

B. RM90,000

C. RM50,000

D. RM80,000

Q2. If the Owner's Capital amounted to RM100,000, long term loans is RM50,000 and drawings is RM7,000 and the balance sheet total was RM200,000, the net profit for the year was:

A. RM57,000

B. RM43,000

C. RM50,000

D. RM107,000

Q3. The capital of a sole trader would change as a result of:

A. Raw materials being purchased on credit

B. A credit customer paying by cheque

C. Non-current assets being purchased on credit

D. Personal petrol being paid for out of the business's petty cash

Reference no: EM132618167

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