During the year ended 31 December 2019
sales were $210 000
purchases were $155 000
Mia took 53 000 in goods and 515 150 in cash for personal use
Mia introduced her private motor vehicle valued at $10 000
profit for the year as a percentage of revenue was 10%.
At 31 December 2019 the inventory was valued at $25 000
(b) Prepare an extract of the income statement for the year ended 31 Decem
showing the trading section only.
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Answer:
- 31/25
- 210000+ 155000 =365000
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