Use the following information to answer the questions The transactions of All Girls' Social Club...
FINANCIAL
WAEC 2023
Use the following information to answer the questions
The transactions of All Girls' Social Club for the year 2021 are as follows:
Bar sales D 30,000; Bar purchases D 17,000 and Rent D 1,200
| 31st December | 2020 | 2021 |
| D | D | |
| Stock at bar | 1400 | 1600 |
| Owing for bar supplies | 6500 | 7300 |
The net profit on the bar to be transferred to the income an expenditure account for the year ended 31st December 2021 is
- A. D 11,600
- B. D 11,800
- C. D 13,000
- D. D 12,400
Correct Answer: A. D 11,600
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