5\. Q61

Hassan Co sells one line of inventory. At the year end it has 400 units in inventory. The following information is available

Original Cost $10.60

Selling Price $13

Selling Costs $3.00

In the statement of financial position these items should be valued at:

a\ $5,200

b\ $4,000

c\ $1,200

d\ $4,240

6\ The source of information for cash paid to suppliers to be entered in the Purchase ledger control account is:

a\ Returns Outwards Day Book

b\ Cash Book

c\ Journal

d\ Purchase Day Book

7\ Which ledger contains the detailed accounts of suppliers (creditors)?

a\ Purchase Ledger

b\ General Ledger

c\ Sales Ledger

d\ Nominal Ledger

Choose the correct answer, give me the question number and the answer code.

I hope that you will help me and solve all the questions.