Annie 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 June 20X6: $ 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 Trade receivables, 1 July 20X5 Trade payables, 1 July 20X5 Cash received from customers Cash paid to suppliers Discounts received Contra between payables and receivables ledgers Trade receivables, 30 June 20X6 Trade payables, 30 June 20X6 What figure should appear for purchases in Annie's statement of profit or loss for the year ended 30 June 20X6?

Annie 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 June 20X6: $ 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 Trade receivables, 1 July 20X5 Trade payables, 1 July 20X5 Cash received from customers Cash paid to suppliers Discounts received Contra between payables and receivables ledgers Trade receivables, 30 June 20X6 Trade payables, 30 June 20X6 What figure should appear for purchases in Annie's statement of profit 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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Annie 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 June 20X6: Trade receivables, 1 July 20X5 Trade payables, 1 July 20X5 Cash received from customers Cash paid to suppliers Discounts received Contra between payables and recervables lodgers Trade receivables, 30 June 20X6 Trade payables, 30 June 20X6 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 What figure should appear for purchases in Anniets statement of profit or loss for the year ended 30 June 20X6?
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