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Paper 2Structured Written Paper2 marks
A sole trader needs to prepare financial statements from incomplete records.
Data Table
Financial Data
The following data is available: Sales $50,000, Purchases $30,000, Closing Inventory $5,000. Prepare an income statement for the year.
| Description | Amount |
|---|---|
| Sales | $50,000 |
| Purchases | $30,000 |
| Closing Inventory | $5,000 |
- a[2]
Prepare an income statement for the year.
Aim for approximately 2 distinct marking points.
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