The business transaction of Tata Motors as follows: The business uses periodic inventory system. 5th May 2019 : Purchased RO30,000 of merchandise inventory from Sky motors : terms 2/15, n 45, (Invoice no. 201) 11th May 2019: Purchased RO20,000 of merchandise inventory from Moon Motors terms 5/20, n 45, (Invoice no. 651) 20th May 2019 : Purchased RO40,000 of merchandise inventory from Heaven Motors terms 5/20, n 45, (Invoice no. 107) 28th May 2019: Full payment was made to Moon Motors 29th May 2019: Goods returned to Heaven Motors RO10,000 30th May 2019 : Purchase merchandise from Start Motors and paid cash immediately. RO 5,000 1- The Closing balance of Heaven Motors under Accounts Payable (Purchase ledger) on 31st May 2019 will be? 2- The closing balance of Total Accounts Payable ledger control account on 31st May 2019 will be? 3- Total Purchase of Merchandise to be shown in the Purchase journal of the business on 31st May 2019 was? 4- Which of the following journal entry is correct on 28th May 2019?
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The business transaction of Tata Motors as follows: The business uses periodic inventory system. |
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5th May 2019 : Purchased RO30,000 of merchandise inventory from Sky motors : terms 2/15, n 45, (Invoice no. 201) |
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11th May 2019: Purchased RO20,000 of merchandise inventory from Moon Motors terms 5/20, n 45, (Invoice no. 651) |
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20th May 2019 : Purchased RO40,000 of merchandise inventory from Heaven Motors terms 5/20, n 45, (Invoice no. 107) |
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28th May 2019: Full payment was made to Moon Motors |
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29th May 2019: Goods returned to Heaven Motors RO10,000 |
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30th May 2019 : Purchase merchandise from Start Motors and paid cash immediately. RO 5,000 |
1- The Closing balance of Heaven Motors under Accounts Payable (Purchase ledger) on 31st May 2019 will be?
2- The closing balance of Total Accounts Payable ledger control account on 31st May 2019 will be?
3- Total Purchase of Merchandise to be shown in the Purchase journal of the business on 31st May 2019 was?
4- Which of the following
5- The double entry for Goods returned to Heaven motors RO 10,000 will be?
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