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What should the closing balance be when the errors have been corrected? A $325,200 B $350,400 C $358,800 D $376,800

What should the closing balance be when the errors have been corrected? A $325,200 B $350,400 C $358,800 D $376,800

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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What should the closing balance be when the errors have been corrected?

A $325,200

B $350,400

C $358,800

D $376,800

28.13 The following payables ledger control account contains some errors. All goods are purchased on credit. PAYABLES LEDGER CONTROL ACCOUNT $ 963,200 12,600 $ Purchases Discounts received Opening balance Purchases returns Cash paid to suppliers 384,600 17,400 988,400 Contras with amounts receivable in receivables ledger Closing balance 4,200 410,400 1,390,400 1,390,400
Transcribed Image Text:28.13 The following payables ledger control account contains some errors. All goods are purchased on credit. PAYABLES LEDGER CONTROL ACCOUNT $ 963,200 12,600 $ Purchases Discounts received Opening balance Purchases returns Cash paid to suppliers 384,600 17,400 988,400 Contras with amounts receivable in receivables ledger Closing balance 4,200 410,400 1,390,400 1,390,400
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