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The Cash account of a confectioner records the sales as 216,480 and the purchases as 196,475 in the first year

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The Cash account of a confectioner records the sales as £216,480 and the purchases as £196,475 in the first year of business. Sales are always made at cost plus 20% and no confectionery remains unsold at the year-end. The owner suspects that part of the amount received from sales has been misappropriated by the manager who has now resigned. What is the extent of suspected misappropriation?

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a £19,290 b £20,005 c £23,291 C

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Related Book For  answer-question
Financial Accounting An Introduction

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Details
Chapter # 2- Accounting for cash
Section: Multiple Choice Questions
Problem: 7
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Question Posted: August 26, 2023 07:23:11
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