Waec Model Questions Vol1 2023 Financial Accounting Question 38
Practice objective / multiple choice question 38 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
The following purchases journal (original entry) records all purchases made by a trading business during January (amounts in Naira).\n\n| Date | Supplier | Cash Purchases | Credit Purchases | Returns | Discount Received | Carriage Inwards |\n|------|----------|----------------|------------------|---------|-------------------|------------------|\n| 1‑Jan| Alpha Ltd| 80,000 | - | - | - | 3,000 |\n| 5‑Jan| Beta Ltd | - | 120,000 | - | - | - |\n|10‑Jan| Gamma Ltd| - | 95,000 |10,000 | - | - |\n|15‑Jan| Alpha Ltd| - | 70,000 | - |1,500 | - |\n|20‑Jan| Delta Ltd| - | 60,000 | - | - |2,500 |\n|25‑Jan| Beta Ltd | - | - |5,000 | - | - |\n|30‑Jan| Gamma Ltd| - | - | - |2,000 | - |\n\nCalculate the total amount that should be posted to the Purchases ledger account (i.e., net purchases).
Answer Options
About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 38. It is one of the objective questions from the 2023 Waec 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.