IGCSE Accounting Paper-2: Specimen Questions with Answers 123 - 125 of 189

Hemlata is a sole trader who buys all her goods for resale on credit. She sells to cash and credit customers.

Hemlata does not keep full accounting records, but provides the following information for the year ended 31^st March 2020.

Question 123 (1 of 3 Based on Passage)

Short Answer▾

Prepare Hemlata’s Trading Account below. (Marks 5)

Hemlata’s Trading A/c for the year ended 31^st March 2020

Hemlata’s Trading A/c for the year ended 31^st March 2020

Short Answer▾

Calculate Hemlata’s stock turnover ratio for the year ended 31^st March 2020. Show your calculations (Marks 3)

times

Short Answer▾

Calculate Hemlata’s sales and purchases for the year ended 31^st March 2020. Also show your calculations. (Marks 9)

(I) Sales

(II) Purchases

(I)

Calculate Hemlata’s sales and purchases for the year ended 31^st March 2020Calculate Hemlata’s sales and purchases for the year ended 31^st March 2020
Credit sales is calculated as follows-		$
Receipt from Debtors		40000
Add: Closing Debtors		10000
		50000
Less: Opening Debtors		8000
	Credit Sales	42000

(II)