Maz owed £1,910 to suppliers at the beginning of the year, £2,430 at the end of the year, and during the year he had paid £28,520 to suppliers. Calculate the credit purchases for the year. It is possible to calculate without drawing up a control account. Credit purchases for the year = Creditors at the end of year + Total paid to creditors – Creditors at the beginning of the year

Maz owed £1,910 to suppliers at the beginning of the year, £2,430 at the end of the year, and during the year he had paid £28,520 to suppliers. Calculate the credit purchases for the year. It is possible to calculate without drawing up a control account. Credit purchases for the year = Creditors at the end of year + Total paid to creditors – Creditors at the beginning of the year

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 43P

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