E6.15Determina correct posting amount to control account.CHAPTER 6 Accounting information systemsLO9, 10, 14Ladder Blocks Pty Ltd uses both special journals and a general journal to record transactions. Ladder Blocks also postscreditors' accounts in the accounts payable subsidiary ledger. The postings for the most recent month are included in thesubsidiary T accounts below.Climbers Ltd150 Bal.(b)Aumans Materials Ltd87 Bal.204120087Brick-a-Brack Pty Ltd90 Bal.Construct Pty Ltd72 Bal.9017472114102Required(a) Determine the correct amount of the end-of-month posting from the purchases journal to the accounts payable controlaccount.Assume that Ladder Blocks has one creditor only and does not expect there to be any other creditors in the future.Would there be any advantage to Ladder Blocks setting up an accounts payable subsidiary ledger?

Posting the Purchases JournalEntries from the purchases journal are posted to the accounts payable…

Required (a) Determine the correct amount of the end-of-month posting from the purchases journal to the accounts payable control account. (b) Assume that Ladder Blocks has one creditor only and does not expect there to be any other creditors in the future. Would there be any advantage to Ladder Blocks setting up an accounts payable subsidiary ledger?

Required (a) Determine the correct amount of the end-of-month posting from the purchases journal to the accounts payable control account. (b) Assume that Ladder Blocks has one creditor only and does not expect there to be any other creditors in the future. Would there be any advantage to Ladder Blocks setting up an accounts payable subsidiary ledger?

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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