What is the amount that should appear as trade creditors in Joanne´s BS on 30 April? On 30 April, the closing balance on Joanne Brown's creditors control account is £290. The total that she owes according to the data for individual suppliers in her creditors ledger is £399. On further investigation, she discovers the following errors: 1. An invoice for £60 goods purchased from First Supplies plc was not recorded in the purchases day book. 2. A cash payment of £40 to Second Ltd was not recorded in the creditors ledger. 3. A cash payment of £56 to First Supplies was correctly recorded in the creditors ledger, but was recorded as £65 in the cash book.10 4. An invoice for £25 goods purchased from Second Ltd was not recorded in either the purchases day book or the creditors ledger.

What is the amount that should appear as trade creditors in Joanne´s BS on 30 April? On 30 April, the closing balance on Joanne Brown's creditors control account is £290. The total that she owes according to the data for individual suppliers in her creditors ledger is £399. On further investigation, she discovers the following errors: 1. An invoice for £60 goods purchased from First Supplies plc was not recorded in the purchases day book. 2. A cash payment of £40 to Second Ltd was not recorded in the creditors ledger. 3. A cash payment of £56 to First Supplies was correctly recorded in the creditors ledger, but was recorded as £65 in the cash book.10 4. An invoice for £25 goods purchased from Second Ltd was not recorded in either the purchases day book or the creditors 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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