Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

urgent need help thanksss Question 2: Alex runs ABC bookstore which is his family business. He has an initial inventory count of RM8,400 on 1

image text in transcribed

urgent need help thanksss

Question 2: Alex runs ABC bookstore which is his family business. He has an initial inventory count of RM8,400 on 1 July 2019 and an inventory count at 30 June 2020 showed inventory to be valued at RM9,350. Sales for the year to 30 June 2020 are RM80,000, and the cost of goods sold was RM60,000. Required: (a) Show the computation of the purchases that Alex incurred for the year ended 30 June 2020 (3 marks) (6) Draw up a trading account for the year ended 30 June 2020 (6 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Auditing and Assurance Services Understanding the Integrated Audit

Authors: Karen L. Hooks

1st edition

471726346, 978-0471726340

More Books

Students also viewed these Accounting questions

Question

A service window closes just as they get to the front of the line.

Answered: 1 week ago