Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

By the close of a financial period, the combined total of the separate balances in the purchases ledger stood at $149000. The following mistakes were then found: 1 A contra of $2500 had been left out of a supplier account. 2 Discounts received of $1200 had been entered in a supplier’s account as $2100. 3 No entries had been recorded for a credit purchase of $5100 from a supplier. 4 Purchases returns of $3000 had been credited to a supplier’s account. What was the revised total of the individual balances in the purchases ledger at the end of the period?

  • A$142300
  • B$144700
  • C$146500
  • D$147300

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