What is his revenue receipt?

By: |Published on: Aug 19|Categories: Accounting WAEC| 0 comments

Use the following information to answer the given question

Rufai, a vulcanize bought 4 machines for N20,200 and incurred the following expenses for the year ended 31st December, 1990.

Glue N2,100
Thread N600
Kerosene N900
Rubber N558
Matched N110

 

He received N5,772 from customers. Two machines were later sold for N6,990 and N5,670 respectively. What is his revenue receipt?

A. N18,432
B. N12,660
C. N6,990
D. N5,772
E. N5,670

Correct Answer:

Option D – N5,772

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