A-LevelAccountingPreparation of financial statements9706/12 · May/June 2018 · Q91 Mark

During the financial year a business paid $295000 to its trade payables, after taking a cash discount of $15000. At the start of the year the trade payables balance was $25000. At the end of the year $32000 was owed to trade payables. What was the amount of credit purchases made during the year?

A$288000

B$302000

C$303000

D$317000

✓ Correct answer

D: $317000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2018 Paper 1 Variant 2, question 9.

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