DOUBLE ENTRY BOOKKEPPINGForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › DOUBLE ENTRY BOOKKEPPINGThis topic has 1 reply, 2 voices, and was last updated 2 weeks ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts September 20, 2025 at 3:47 pm #722924 petestudentaccaParticipantTopics: 5Replies: 3☆Sam prepared a draft statement of profit or loss for the business as follows:Revenue 256,800 CR Cost of sales Opening inventory 13,400 DR Purchases 145,000 DR Closing inventory (14,200)DR (144,200) Gross profit 112,600 CR Operating expenses (76,000) CR Operating profit 36,600 CRSam has not yet recorded the following items:Carriage in of $2,300Discounts received of $3,900Carriage out of $1,950After these amounts are recorded, what are the revised values for gross and operating profit of Sam’s business?Can you ecxpalin me how to get solution. Thank you! September 21, 2025 at 7:35 am #722929 John MoffatKeymasterTopics: 57Replies: 54759☆☆☆☆☆Carriage in and discounts received both affect the cost of sales figure and therefore the gross profit ( and therefore the operating profit as well).Carriage out does not affect the gross profit, but will affect the operating profit.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In