Senji does not keep proper accounting records, and it is necessary to calculate her total purchases for the year ended 31 January 20X3 from the following information: $ Trade payables: 31 January 20X2 130,400 31 January 20X3 171,250 Payment to suppliers 888,400 Cost of goods taken from inventory by Senji for her personal use 1,000 Refunds received from suppliers 2,400 Discounts received 11,200 What is the figure for purchases that should be included in Senji’s financial statements?
Senji does not keep proper accounting records, and it is necessary to calculate her total purchases for the year ended 31 January 20X3 from the following information: $ Trade payables: 31 January 20X2 130,400 31 January 20X3 171,250 Payment to suppliers 888,400 Cost of goods taken from inventory by Senji for her personal use 1,000 Refunds received from suppliers 2,400 Discounts received 11,200 What is the figure for purchases that should be included in Senji’s financial statements?
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 5P: Business with gross receipts of $25 million or less may treat inventory as nonincidental materials...
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Senji does not keep proper accounting records, and it is necessary to calculate her total purchases for
the year ended 31 January 20X3 from the following information:
$
Trade payables: 31 January 20X2 130,400
31 January 20X3 171,250
Payment to suppliers 888,400
Cost of goods taken from inventory by Senji for her personal use 1,000
Refunds received from suppliers 2,400
Discounts received 11,200
What is the figure for purchases that should be included in Senji’s financial statements?
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