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The following Purchases Ledger  Control  Account   PLCA  was prepared  for the   year: Bal  b/d 45,000   Bank 285,000 Credit  Purchases   *  ? 145,000   Return outwards 12,500 Discount received 24,000       Bal  c/d 78,500                297,500     297,500             It was  suspected that  there  are  some  errors in the  preparation of the  PLCA, although  the   numerical values   are correct  except for the  credit purchases.   What would be the  amount for credit  purchases if the  PLCA was  to be  written up correctly?   355,000 360,000 450,000 517,000

The following Purchases Ledger  Control  Account   PLCA  was prepared  for the   year: Bal  b/d 45,000   Bank 285,000 Credit  Purchases   *  ? 145,000   Return outwards 12,500 Discount received 24,000       Bal  c/d 78,500                297,500     297,500             It was  suspected that  there  are  some  errors in the  preparation of the  PLCA, although  the   numerical values   are correct  except for the  credit purchases.   What would be the  amount for credit  purchases if the  PLCA was  to be  written up correctly?   355,000 360,000 450,000 517,000

FINANCIAL ACCOUNTING
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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  1. The following Purchases Ledger  Control  Account   PLCA  was prepared  for the   year:

Bal  b/d

45,000

 

Bank

285,000

Credit  Purchases   *  ?

145,000

 

Return outwards

12,500

Discount received

24,000

 

 

 

Bal  c/d

78,500

 

 

 

 

       297,500

 

 

297,500

 

 

 

 

  

 

It was  suspected that  there  are  some  errors in the  preparation of the  PLCA, although  the   numerical values   are correct  except for the  credit purchases.

 

What would be the  amount for credit  purchases if the  PLCA was  to be  written up correctly?

 

  1. 355,000
  2. 360,000
  3. 450,000
  4. 517,000

 

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