A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2019 · Q71 Mark
The table shows information for a business at 31 March 2019. $ inventory 16 100 trade payables 5200 other payables 2000 The information excludes the purchase of $3700 of goods. These goods were delivered on 31 March 2019, but the invoice states that legal title to the goods does not pass until payment is received. Which values should appear in the statement of financial position on 31 March 2019?
Ainventory: $16100, trade payables: $5200, other payables: $2000
Binventory: $16100, trade payables: $5200, other payables: $5700
Cinventory: $19800, trade payables: $5200, other payables: $5700
Dinventory: $19800, trade payables: $8900, other payables: $2000
✓ Correct answer
D: inventory: $19800, trade payables: $8900, other payables: $2000
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.
Sign up free →