Paper 1 OCTOBER/NOVEMBER SESSION 2002 Accounting (9706/12) A Level
A trader calculated his draft profit for the year as $\$ 16000$. The following items had not been adjusted.
1 decrease in prepaid insurance, $\$ 400$
2 increase in closing inventory, $\$ 1200$
3 decrease in provision for doubtful debts, $\$ 120\;$
4 increase in accrued rent receivable, $\$ 300\;$
What was the profit for the year after adjusting for these items?