QUESTIONS 11.20 A business commenced trading on 01 January 20X1. The following transactions with Supplier A have been recorded in the purchase ledger. 01 January 20X1 01 January 20X1 01 February 20X1 30 March 20X1 31 March 20X1 Opening balance Purchase of goods $50 Purchase of goods $435 Payment Closing balance $nil (1) (2) (3) $385 $100 On 31 March 20X1, the business receives the following statement from the supplier. (4) (5) (6) Opening balance 1 January 20X1 1 February 20X1 31 March 20X1 $nil $50 $435 $35 $520 Invoice #365 Invoice #490 Invoice #533 Closing balance Which transactions should be noted as reconciling items on the supplier statement reconciliation at 31 March 20X1? 3 only 6 only 3 and 6 only 1 to 6 C D
QUESTIONS 11.20 A business commenced trading on 01 January 20X1. The following transactions with Supplier A have been recorded in the purchase ledger. 01 January 20X1 01 January 20X1 01 February 20X1 30 March 20X1 31 March 20X1 Opening balance Purchase of goods $50 Purchase of goods $435 Payment Closing balance $nil (1) (2) (3) $385 $100 On 31 March 20X1, the business receives the following statement from the supplier. (4) (5) (6) Opening balance 1 January 20X1 1 February 20X1 31 March 20X1 $nil $50 $435 $35 $520 Invoice #365 Invoice #490 Invoice #533 Closing balance Which transactions should be noted as reconciling items on the supplier statement reconciliation at 31 March 20X1? 3 only 6 only 3 and 6 only 1 to 6 C D
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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11.20 A business commenced trading on 01 January 20X1. The following transactions with Supplier A have
65
been recorded in the purchase ledger.
01 January 20X1
01 January 20X1
01 February 20X1
30 March 20X1
31 March 20X1
Opening balance
Purchase of goods $50
Purchase of goods $435
Payment
Closing balance
55
$nil
(1)
(2)
(3)
$385
$100
On 31 March 20X1, the business receives the following statement from the supplier.
Opening balance
1 January 20X1
1 February 20X1
31 March 20x1
$nil
$50
$435
$35
$520
Invoice #365
(4)
(5)
(6)
Invoice #490
Invoice #533
Which transactions should be noted as reconciling items on the supplier statement reconciliation at
31 March 20X1?
Closing balance
3 only
6 only
3 and 6 only
1 to 6
A
BCD
%24
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