Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

The table presents details about a business on 31 March 2019. Inventory: $16100$ Trade payables: $5200$ Other payables: $2000$ The figures do not include the purchase of $3700$ of goods. Although these goods were delivered on 31 March 2019, the invoice says that legal title to the goods passes only when payment is received. Which amounts should be shown in the statement of financial position on 31 March 2019?

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