The following information is available for the year ended 31 December for Ski, a well-run company.
| OPENING CASH | 1,230 |
| CLOSING CASH | 18,480 |
| OPENING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 70,000 |
| CLOSING BALANCE ON THE TRADE PAYABLES CONTROL ACCOUNT | 20,000 |
| OPENING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 52,500 |
| CLOSING BALANCE ON THE TRADE RECEIVABLES CONTROL ACCOUNT | 30,000 |
| CASH PAID TO TRADE ACCOUNTS PAYABLES IN THE PERIOD | 45,000 |
| OPENING INVENTORY | 16,875 |
| CLOSING INVENTORY | 1,750 |
| MARKUP % | 60 |
Assuming the information above is complete, what was the sales figure for the period?
Suggested solutions
PAYABLES CONTROL ACCOUNT
| DEBIT | CREDIT | ||
| CASH PAID | 45,000 | OPENING BALANCE | 70,000 |
| PURCHASE | ??? | ||
| CLOSING BALANCE | 20,000 | ||
| PURCHASE = | -5,000 |
| OPENING INVENTORY | 16,875 |
| PLUS PURCHASE | -5,000 |
| MINUS CLOSING INVENTORY | 1,750 |
| = COST OF SALES | 10,125 |
| X factor | 1.6 |
| SALES = | 16,200 |
To do the same topic again in ACCA F3 Sales Figure
To do another topic in ACCA F3
2015 ACCA F3 Sales Figure