Question
Information for the year ending 30 June 2020 is as follows:- Sales R800 000 Profit before tax R186 000 Closing accounts payable R45 000 Opening
Information for the year ending 30 June 2020 is as follows:-
Sales R800 000
Profit before tax R186 000
Closing accounts payable R45 000
Opening accounts payable R63 000
Opening inventory R92 000
Closing inventory R88 000
Dividends received R24 000
Finance charges R8 400
Expense paid in advance 2020 R21 000
Calculate the cash payments to employees and suppliers for the year ending 30 June 2020?
Select one:
a. R636 600
b. R644 600
c. R628 600
d. None of the other answers
Step by Step Solution
3.44 Rating (163 Votes )
There are 3 Steps involved in it
Step: 1
Answer is Option D None of other answers Explanation Co...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App