20.5 Based on the above information, what figure should appear in A's statement of profit or loss for he year ended 30 November 20X3 for purchases? A $283,760 $325,840 $329,760 C
20.5 Based on the above information, what figure should appear in A's statement of profit or loss for he year ended 30 November 20X3 for purchases? A $283,760 $325,840 $329,760 C
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 20.5

Transcribed Image Text:The following information is relevant for Questions 20.4 and 20.5.
A 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 November 20X3.
24
Trade receivables, 1 December 20X2
Trade payables, 1 December 20X2
Cash received from customers
Cash paid to suppliers
130,000
60,000
687,800
302,800
2,960
4,160
Discounts received
Irrecoverable debts
Amount due from a customer who is also a supplier offset against
an amount due for goods supplied by him
Trade receivables, 30 November 20X3
Trade payables, 30 November 20X3
2,000
181,000
84,000
20.4 Based on the above information, what should be the figure for sales revenue in A's statement of profit or
loss for the year ended 30 November 20X3?

Transcribed Image Text:20.5 Based on the above information, what figure should appear in A's statement of profit or loss for the year
ended 30 November 20X3 for purchases?
$283,760
$325,840
$329,760
$331.760
ABCD
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