Use the following information to answer the given question\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ \text{Return inward} & 150 \\ \text{Rent} & 2,000 \\ \text{Salaries} & 1,000 \\ \text{Discount received} & 400\\ \text{Closing stock} & 250 \\ \text{Opening stock} & 100\end{array}\)Net profit is

Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ \text{Return inward} & 150 \\ \text{Rent} & 2,000 \\ \text{Salaries} & 1,000 \\ \text{Discount received} & 400\\ \text{Closing stock} & 250 \\ \text{Opening stock} & 100\end{array}\) Net profit is

Use the following information to answer the given question

\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ \text{Return inward} & 150 \\ \text{Rent} & 2,000 \\ \text{Salaries} & 1,000 \\ \text{Discount received} & 400\\ \text{Closing stock} & 250 \\ \text{Opening stock} & 100\end{array}\)

Net profit is

A N9,100
B N7,850
C N7,750
D N6,500

waec 2000 accounting

The correct answer is D. N6,500

sales 14,600 less; sales returns 150 14,450 purchases --------- 5,500 disc, received ---- -400 5,100 opening stock------ 100 closing stock-------- -250 cost goods sold 4,950 9,500 Rent -------- 2,000 salaries --- 1,000 3,000 Net profit 6,500

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