In your audit of the Gamer Inc., the client provided you the details of the Trade Accounts Receivable general ledger as follows: DEBITS Beginning Balance Credit Sales Shareholders' subscrptions Deposit on contract Claims against common carrier for damages IOUS from employees Cash advance to affiliates Advances to a supplier CREDITS 700,000 7,000,000 Write-off 300,000 Merchandise returns 220,000 Allowances to customer for shipping damages 200,000 Collections on carrier claims 20,000 Collections on subscriptions 200,000 60,000 Collections from Customers Use the above information in answering questions 1-5: Q1. The correct amount of trade accounts receivable 6,300,000 45,000 50,000 35,000 50,000 60,000

In your audit of the Gamer Inc., the client provided you the details of the Trade Accounts Receivable general ledger as follows: DEBITS Beginning Balance Credit Sales Shareholders' subscrptions Deposit on contract Claims against common carrier for damages IOUS from employees Cash advance to affiliates Advances to a supplier CREDITS 700,000 7,000,000 Write-off 300,000 Merchandise returns 220,000 Allowances to customer for shipping damages 200,000 Collections on carrier claims 20,000 Collections on subscriptions 200,000 60,000 Collections from Customers Use the above information in answering questions 1-5: Q1. The correct amount of trade accounts receivable 6,300,000 45,000 50,000 35,000 50,000 60,000

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter9: Database Management Systems

Section: Chapter Questions

Problem 18P

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The accountant at Borris Co has prepared the following reconciliation between the balance on the trade payables ledger control account in the general ledger and the list of balances from the suppliers ledger: $ Balance on general ledger control account 68,566 Credit balance omitted from list of balances from payables ledger (127) 68,439 Undercasting of purchases day book 99 Total of list of balances 68,538 What balance should be reported on Borris Co’s statement of financial position for trade payables?
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