Maurice Tutor

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Category > Management Posted 17 Jan 2018 My Price 5.00

Valley’s payables ledger

The total of the list of balances in Valley’s payables ledger was $438,900 at 30 June 20X6. This balance did notagree with Valley’s payables ledger control account balance. The following errors were discovered:(1) A contra entry of $980 was recorded in the payables ledger control account, but not in the payables ledger.(2) The total of the purchase returns daybook was undercast by $1,000.(3) An invoice for $4,344 was posted to the supplier’s account as $4,434.What amount should Valley report in its statement of financial position for accounts payable at 30 June 20X6?A $436,830B $438,010C $439,790D $437,83019 According to IAS 2 Inventories, which TWO of the following costs should be included in valuing the inventoriesof a manufacturing company?(1) Carriage inwards(2) Carriage outwards(3) Depreciation of factory plant(4) General administrative overheadsA 1 and 4B 1 and 3C 3 and 4D 2 and 3

 


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Maurice Tutor
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Status NEW Posted 17 Jan 2018 07:01 PM My Price 5.00

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