| Exam Name: | Fundamentals of financial accounting | ||
| Exam Code: | BA3 Dumps | ||
| Vendor: | CIMA | Certification: | CIMA Certificate |
| Questions: | 393 Q&A's | Shared By: | jennifer |
On 1 January 2001, a company owed a supplier £840.
During the month of January the company purchased goods for £1400 and returned goods valued at £200. A payment of £200 was made towards the outstanding balance. The supplier offered a discount of 5% on purchases.
The balance on the supplier's account at the end of the period is:
Refer to the Exhibit.
A company operates a FIFO system of inventory valuation. Opening inventory at the beginning of the period was 200 units @ £2.80 each. During the period the following movements of inventory were recorded.
The value of the closing inventory at the end of the period and amount charged to the income statement were:
The trial balance shows the debit total as $200 less than the credit total.
This could be due to:
TESTED 24 Feb 2025
