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20.5 Based on the above information, what figure should appear in A's statement of profit or loss for he year ended 30 November 20X3 for purchases? A $283,760 $325,840 $329,760 C

20.5 Based on the above information, what figure should appear in A's statement of profit or loss for he year ended 30 November 20X3 for purchases? A $283,760 $325,840 $329,760 C

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 20.5

The following information is relevant for Questions 20.4 and 20.5. A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 November 20X3. 24 Trade receivables, 1 December 20X2 Trade payables, 1 December 20X2 Cash received from customers Cash paid to suppliers 130,000 60,000 687,800 302,800 2,960 4,160 Discounts received Irrecoverable debts Amount due from a customer who is also a supplier offset against an amount due for goods supplied by him Trade receivables, 30 November 20X3 Trade payables, 30 November 20X3 2,000 181,000 84,000 20.4 Based on the above information, what should be the figure for sales revenue in A's statement of profit or loss for the year ended 30 November 20X3?
Transcribed Image Text:The following information is relevant for Questions 20.4 and 20.5. A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 November 20X3. 24 Trade receivables, 1 December 20X2 Trade payables, 1 December 20X2 Cash received from customers Cash paid to suppliers 130,000 60,000 687,800 302,800 2,960 4,160 Discounts received Irrecoverable debts Amount due from a customer who is also a supplier offset against an amount due for goods supplied by him Trade receivables, 30 November 20X3 Trade payables, 30 November 20X3 2,000 181,000 84,000 20.4 Based on the above information, what should be the figure for sales revenue in A's statement of profit or loss for the year ended 30 November 20X3?
20.5 Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30 November 20X3 for purchases? $283,760 $325,840 $329,760 $331.760 ABCD
Transcribed Image Text:20.5 Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30 November 20X3 for purchases? $283,760 $325,840 $329,760 $331.760 ABCD
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