Annie is a sole trader who does not keep full accounting records. The following details relate to hertransactions with credit customers and suppliers for the year ended 30 June 20X6:Trade receivables, 1 July 20X5Trade payables, 1 July 20X5Cash received from customersCash paid to suppliersDiscounts receivedContra between payables and recervables lodgersTrade receivables, 30 June 20X6Trade payables, 30 June 20X6130,00060,000686,400302,8002,9602,000181,00084,000What figure should appear for purchases in Anniets statement of profit or loss for the year ended30 June 20X6?

A purchase account is an account that records all the transactions related to buying goods. It…

Annie is a sole trader who does not keep fall accourting reconds. The following details relate to her transactions with credit customers and supplers tor the year ended 30 June 20K5. Trade receivables, 1 July 20K5 Trade payabies, 1 Juy 20X5 Cash received from customens Cash paid to suppliers Discounts received 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 Contra betwoen payables and recenables ledgers Trade receivables, 30 June 20K6 Trade payabies, 30 June 20X6 What figure should appear for purchases in Anniets statemert of prafit or loss for the year ended 30 June 20X6?

Annie is a sole trader who does not keep fall accourting reconds. The following details relate to her transactions with credit customers and supplers tor the year ended 30 June 20K5. Trade receivables, 1 July 20K5 Trade payabies, 1 Juy 20X5 Cash received from customens Cash paid to suppliers Discounts received 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 Contra betwoen payables and recenables ledgers Trade receivables, 30 June 20K6 Trade payabies, 30 June 20X6 What figure should appear for purchases in Anniets statemert of prafit or loss for the year ended 30 June 20X6?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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