Question
Accounting help. please explain Annie is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit
Accounting help. please explain
Annie is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 June 20X6.
|
| $ |
| Trade receivables, 1 July 20X5 | 130,000 |
| Trade payables, 1 July 20X5 | 60,000 |
| Cash received from customers | 686,400 |
| Cash paid to suppliers | 302,800 |
| Discounts allowed | 1,400 |
| Discounts received | 2,960 |
| Contra between payables and receivables ledger | 2,000 |
| Trade receivables, 30 June 20X6 | 181,000 |
| Trade payables, 30 June 20X6 | 84,000 |
What figure should appear in Annie's statement of profit or loss for the year ended 30 June 20X6 for purchases?
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Information Technology Security Audit Guidebook NIST SP 800-171
Authors: Mark A Russo CISSP-ISSAP CISO
1st Edition
1726674908, 978-1726674904
