The following Purchases Ledger Control Account PLCA was prepared for the year: Bal b/d 45,000 Bank 285,000 Credit Purchases * ? 145,000 Return outwards 12,500 Discount received 24,000 Bal c/d 78,500 297,500 297,500 It was suspected that there are some errors in the preparation of the PLCA, although the numerical values are correct except for the credit purchases. What would be the amount for credit purchases if the PLCA was to be written up correctly? 355,000 360,000 450,000 517,000
The following Purchases Ledger Control Account PLCA was prepared for the year: Bal b/d 45,000 Bank 285,000 Credit Purchases * ? 145,000 Return outwards 12,500 Discount received 24,000 Bal c/d 78,500 297,500 297,500 It was suspected that there are some errors in the preparation of the PLCA, although the numerical values are correct except for the credit purchases. What would be the amount for credit purchases if the PLCA was to be written up correctly? 355,000 360,000 450,000 517,000
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 13PB: Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash,...
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Question
- The following Purchases Ledger Control Account PLCA was prepared for the year:
Bal b/d |
45,000 |
|
Bank |
285,000 |
Credit Purchases * ? |
145,000 |
|
Return outwards |
12,500 |
Discount received |
24,000 |
|
|
|
Bal c/d |
78,500 |
|
|
|
|
297,500 |
|
|
297,500 |
|
|
|
|
It was suspected that there are some errors in the preparation of the PLCA, although the numerical values are correct except for the credit purchases.
What would be the amount for credit purchases if the PLCA was to be written up correctly?
- 355,000
- 360,000
- 450,000
- 517,000
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