Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

Konrad’s purchases ledger showed trade payables balances adding up to $57400$. The following mistakes were then identified: Discount allowed recorded too high in the cash book: $2000$ Returns outwards left out of a supplier’s account: $350$ Payments to trade payables recorded too low in the cash book: $137$ Purchases journal recorded too high: $500$ What is the corrected total of trade payables balances?

  • A$54413$
  • B$54913$
  • C$55050$
  • D$57050$

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