Gce Model Questions Vol1 2017 Financial Accounting Question 6
Practice objective / multiple choice question 6 from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
The Purchases Control Account for the year shows an opening creditors balance of \(£10{,}000\) (credit) and purchases on credit of \(£45{,}000\) (credit). The closing creditors balance is \(£9{,}500\) (credit). Using this information, determine the total amount of purchase returns that should be recorded in the Purchases Returns subsidiary ledger, given that a return of \(£2{,}300\) was omitted from the subsidiary ledger.
Answer Options
About This Question
This is Gce Model Questions Vol1 2017 Financial Accounting Question 6. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.