WAEC Accounting 2021 Paper

Concept:Net profit is found by taking gross profit, adding discounts relieved, and subtracting discounts allowed and other operating expenses.Explanation:Use the profit relation:$$\text{Net Profit} = \text{Gross Profit} + \text{Discounts Relieved} - \text{Discounts Allowed} - \text{Other Operating Expenses}$$Substitute the given amounts:$$26,500 = 50,400 + 3,300 - 2,500 - \text{Other Operating Expenses}$$Simplify the known values:$$50,400 + 3,300 - 2,500 = 51,200$$So:$$26,500 = 51,200 - \text{Other Operating Expenses}$$Rearrange to solve for other operating expenses:$$\text{Other Operating Expenses} = 51,200 - 26,500 = 24,700$$Therefore, other operating expenses for the period are GH¢24,700.Answer:GH¢24,700