Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Jan 2018 My Price 6.00

Alpha’spurchase ledger

Alpha received a statement of account from a supplier Beta, showing a balance to be paid of $8,950. Alpha’spurchase ledger account for Beta shows a balance due to Beta of $4,140.Investigation reveals the following:(1) cash paid to Beta of $4,080 has not been accounted for by Beta(2) Alpha’s ledger account has not been adjusted for $40 of cash discount disallowed by BetaWhat discrepancy remains between Alpha’s and Beta’s records after allowing for these items?A nilB $690C $770D $7301448 The inventory value for the financial statements of Q for the year ended 31 May 20X6 was based on an inventorycount on 4 June 20X6, which gave a total inventory value of $836,200.Between 31 May and 4 June 20X6, the following transactions took place:$Purchase of goods 8,600Sales of goods (profit margin 30% on sales) 14,000Goods returned by Q to supplier 700What adjusted figure should be included in the financial statements for inventories at 31 May 20X6?A $838,100B $853,900C $818,500D $834,300

 

 

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Maurice Tutor
(5)
Status NEW Posted 21 Jan 2018 12:01 AM My Price 6.00

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