9706/11 Accounting Oct Nov 2020 Online Test | Cambridge AS and A Level MCQ

At 31 December 2021, a business had calculated the draft profit for the year of $\$ 57500$.
It was then discovered that the following adjustments were necessary.
1 Inventory valued at $\$ 2400$ was damaged and now had a resale value of $\$ 1660$.
2 Rent receivable included $\$ 400$ prepaid for 2022.
3 The provision for doubtful debts needed to be increased by $\$ 890$.
What is the correct profit…