The following information is available for the year ended 31 December for Ski, a well-run company.
| OPENING CASH | 7,380 |
| CLOSING CASH | 20,790 |
| OPENING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 61,250 |
| CLOSING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 40,000 |
| OPENING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 78,750 |
| CLOSING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 50,000 |
| CASH PAID TO TRADE ACCOUNTS PAYABLES IN THE PERIOD | 50,625 |
| OPENING INVENTORY | 9,375 |
| CLOSING INVENTORY | 8,750 |
| 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 | 50,625 | OPENING BALANCE | 61,250 |
| PURCHASE | ??? | ||
| CLOSING BALANCE | 40,000 | ||
| PURCHASE = | 29,375 |
| OPENING INVENTORY | 9,375 |
| PLUS PURCHASE | 29,375 |
| MINUS CLOSING INVENTORY | 8,750 |
| = COST OF SALES | 30,000 |
| X factor | 1.8 |
| SALES = | 54,000 |
To do the same topic again in ACCA F3 Sales Figure
To do another topic in ACCA F3
2015 ACCA F3 Sales Figure