Gce Model Questions Vol1 2020 Financial Accounting Question 10
Practice objective / multiple choice question 10 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
The Purchases Ledger Control Account of ABC Ltd for the month shows an opening credit balance of \(20{,}000\). During the month the following entries were posted:\n- Purchases recorded: \(45{,}000\).\n- Purchase returns recorded: \(5{,}000\).\n- Payments made to suppliers: \(30{,}000\).\nAt month‑end the total of the individual suppliers' balances in the Purchases Ledger (the subsidiary ledger) is \(12{,}000\) (credit). Assuming the control account should agree with the subsidiary ledger, determine the amount of purchases that were omitted from the control account.
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 10. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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