A Purchase Ledger Control account has been reconciled with the purchase ledger balances as shown. Which figure

Question:

A Purchase Ledger Control account has been reconciled with the purchase ledger balances as shown.

Which figure for creditors should be shown in the Balance Sheet?

A. $75 000

B. $77 000

C. $80 000

D. $85 000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

See More Books

Question Posted: Aug 27, 2023 08:50 AM

See More Questions

Explain the two-step test used for applying the General Exceptions under Art. XIV of the GATS. Make reference to case law where appropriate.
The following information has been extracted from the books of Rorre Ltd at 31 December 2003. Draft accounts show a net profit of $31 000 for the year ended 31 December 2003. The following errors...
(a) Outline three reasons for keeping control accounts. (b) The following information was extracted from the books of William Noel for the year ended 30 April 2001. Draw up the Purchase Ledger...
Chemistry A one-electron atom is an atom with Z protons in the nucleus and one electron. For example, Z = 2 for helium and Z = 3 for lithium. Use our class discussion of the allowed radii and...
Suppose in a large department store, the average number of shoppers is 448, with a standard deviation of 21 shoppers. We are interested in the probability that a random sample of 49 different...
Explain why the yield on a convertible bond is lower than the yield on an otherwise identical bond without a conversion feature.
For each investor h = 1,...,H, let h denote the optimal portfolio presented in (14.24). Using the notation of Section 14.6, set h = 1/h for each investor h. Then, (14.24) implies Whh = h1 ( r) j=1...
Pursuant to a complete liquidation, Carrot Corporation distributes to its share holders real estate held as an investment (basis of $650,000, fair market value of $880,000). a. Determine the gain or...
Pacific Speciality Foods purchased equipment for $21,000
At 31 December 2003 the balance on Sellit's Sales Ledger Control account was $17 584 (debit). It did not agree with the total of balances extracted from the sales ledger. The following errors have...
All of Grayson's stock was stolen when his business was burgled on 4 March 2004. His stock at 31 December 2003 was $23 000. From 1 January to 4 March 2004 sales totalled $42 000 and purchases were...
Ideal height of your mate. Refer to the Chance (Summer 2008) study of the height of the ideal mate, Exercise 11.33 (p. 629). The data were used to fit the simple linear regression model, E1y2 = b0 +...
speed of the three phase motor does not vary greatly from the experiment. 1. Draw the symbol for a Three Phase Electric Motor. (Hint: remember the symbol table from the beginning of the semester?) 2....
Lifetime Insurance Company has two supporting departments (actuarial and premium), and two production departments (advertising and sales). Data from operations for the current year are as follows:...
Consider a wireless local area network (LAN) with an access point and 10 stations (Station 1, Station 2, Station 3, , and Station 10). Distributed coordination function (DCF), which is based on...
A worker needs to pump water from a reservoir to a big container that is open to the atmosphere. The water velocity at the surface of the reservoir is 2.5 m/s. The worker uses a 35-m long, 18-cm...
Identify each fringe benefit provided to Maggie and determine whether an exemption applies. (6 marks) Question 2: Explain the impact the fringe benefits will have on Maggie's taxable income and/or...
Sweet corn plants can grow 4.1 cm in height per day. What is this speed in (a) Millimeters per second and (b) Feet per week?
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations. a. Amber Corporation donated inventory of clothing (basis of $24,000, fair...
Art, an executive with Azure Corporation, plans to start a part-time business selling products on the Internet. He will devote about 15 hours each week to running the business. Arts salary from Azure...
Compute the income tax liability for each of the following unrelated C corporations. a. Darter Corporation has taxable income of $68,000. b. Owl Corporation has taxable income of $10,800,000. c....
7 . 4 3 Buy - side vs . sell - side analysts' earnings forecasts. Refer to the Financial Analysts Journal ( July / August 2 0 0 8 ) study of earnings forecasts of buy - side and sell - side analysts,...
Bond P is a premium bond with a coupon of 8.6 percent , a YTM of 7.35 percent, and 15 years to maturity. Bond D is a discount bond with a coupon of 8.6 percent, a YTM of 10.35 percent, and also 15...
QUESTION 2 (25 MARKS) The draft financial statements of Sirius Bhd, Vega Bhd, Rigel Bhd and Capella for the year ended 31 December 2018 are as follows: Statement of Profit or Loss for the year ended...

A Purchase Ledger Control account has been reconciled with the purchase ledger balances as shown. Which figure

Question:

Balance per Control account Total of purchases journal for one month not posted to general ledger Cash paid to creditors not posted to purchase ledger Total of balances in purchase ledger $ 76 000 4 000 5 000 85 000

Step by Step Answer:

To determine the correct figure for creditors to be sho...View the full answer

Accounting A Level And AS Level

Students also viewed these Business questions