7.1. What would the folio reference for the Cost of Sales entry A be? 7.2. In the trading stock account above, what does the letter B represent? 7.3. In the trading stock account above, what does the letter C represent? 7.4. In the trading stock account above, what does the letter D represent?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 7
The following information relates to the Snorlax Store, a retail business that buys and sells stylish sleepware.
Dr
March
April
01 Bank
31
Bank
01 Balance
b/d
CPJ
b/d
TRADING STOCK
80 000
с
?
D
March 31
7.1. What would the folio reference for the Cost of Sales entry A be?
7.2. In the trading stock account above, what does the letter B represent?
7.3. In the trading stock account above, what does the letter C represent?
7.4. In the trading stock account above, what does the letter D represent?
Cost of sales
Balance
B12
A
c/d
B07
CR
Transcribed Image Text:Question 7 The following information relates to the Snorlax Store, a retail business that buys and sells stylish sleepware. Dr March April 01 Bank 31 Bank 01 Balance b/d CPJ b/d TRADING STOCK 80 000 с ? D March 31 7.1. What would the folio reference for the Cost of Sales entry A be? 7.2. In the trading stock account above, what does the letter B represent? 7.3. In the trading stock account above, what does the letter C represent? 7.4. In the trading stock account above, what does the letter D represent? Cost of sales Balance B12 A c/d B07 CR
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