The following information is available for the year ended 31 December for Ski, a well-run company.
| OPENING CASH | 2,460 |
| CLOSING CASH | 9,240 |
| OPENING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 17,500 |
| CLOSING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 70,000 |
| OPENING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 43,750 |
| CLOSING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 60,000 |
| CASH PAID TO TRADE ACCOUNTS PAYABLES IN THE PERIOD | 43,750 |
| OPENING INVENTORY | 16,875 |
| CLOSING INVENTORY | 7,000 |
| 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 | 43,750 | OPENING BALANCE | 17,500 |
| PURCHASE | ??? | ||
| CLOSING BALANCE | 70,000 | ||
| PURCHASE = | 96,250 |
| OPENING INVENTORY | 16,875 |
| PLUS PURCHASE | 96,250 |
| MINUS CLOSING INVENTORY | 7,000 |
| = COST OF SALES | 106,125 |
| X factor | 1.8 |
| SALES = | 191,025 |
To do the same topic again in ACCA F3 Sales Figure
To do another topic in ACCA F3
2015 ACCA F3 Sales Figure