The transactions of All Girls' Social Club for the ye...
The transactions of All Girls' Social Club for the year 2021 are as follows:
Bar sales D 30,000; Bar purchases D 17,000 and Rent D 1,200
| 31st December | 2020 | 2021 |
| D | D | |
| Stock at bar | 1400 | 1600 |
| Owing for bar supplies | 6500 | 7300 |
The value of purchases for the year is
D 16,200
D 17,800
D 17,000
D 16,800
Correct answer is B
To determine the value of purchases for the year, you need to consider the opening stock, purchases made during the year, and the closing stock. The formula for calculating purchases is as follows:
Purchases = Opening Stock + Purchases Made - Closing Stock
According to the information provided:
Opening Stock = D1,400
Closing Stock = D1,600
Owing for bar supplies at the end of 2021 = D7,300
Bar purchases = D17,000
Using the formula above:
Purchases = D1,400 + D17,000 - D1,600
Purchases = D17,800
Therefore, the value of purchases for the year is D17,800.
The item that are contained in the bought ledger control account are? ...
A unit of company's capital which can be bought is ...
When a share valued at 50k is issued at #1.59, it is said to be issued at ...
Which of the following is not a cause discrepancy between cash book and bank statement balances? ...
The factory cost of producing goods is made up of ...
"Accountants do not count chickens before they are climbed". This is the concept of ...
\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hlin...
A pension granted to any past president or vice-president shall be charged to the? ...