The following information is available for the year ended 31 December for Ski, a well-run company.
OPENING CASH | 6,150 |
CLOSING CASH | 20,790 |
OPENING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 8,750 |
CLOSING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 40,000 |
OPENING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 70,000 |
CLOSING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 90,000 |
CASH PAID TO TRADE ACCOUNTS PAYABLES IN THE PERIOD | 24,375 |
OPENING INVENTORY | 5,625 |
CLOSING INVENTORY | 15,750 |
MARKUP % | 80 |
Assuming the information above is complete, what was the sales figure for the period?
Suggested solutions
PAYABLES CONTROL ACCOUNT
DEBIT | CREDIT | ||
CASH PAID | 24,375 | OPENING BALANCE | 8,750 |
PURCHASE | ??? | ||
CLOSING BALANCE | 40,000 | ||
PURCHASE = | 55,625 td> |
OPENING INVENTORY | 5,625 |
PLUS PURCHASE | 55,625 |
MINUS CLOSING INVENTORY | 15,750 |
= COST OF SALES | 45,500 |
X factor | 1.8 |
SALES = | 81,900 |
To do the same topic again in ACCA F3 Sales Figure
To do another topic in ACCA F3
2015 ACCA F3 Sales Figure