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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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