Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4.The total of the list of balances in MrMwamba's purchase ledger was K438, 900 at 30 June 2006. This balance did not agree with MrMwamba's

image text in transcribed

4.The total of the list of balances in MrMwamba's purchase ledger was K438, 900 at 30 June 2006. This balance did not agree with MrMwamba's purchase ledger control account balance. The following errors were discovered: A contra entry of K980 was recorded in the purchase ledger control account, but not in the purchase ledger. The total of the purchase returns daybook was under cast by K1, 000. An invoice for K4, 344 was posted to the supplier's account as K4, 434. RequiredUse the purchases ledger control account to establish the trade creditor's figure to be included in the balance sheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions