WAEC - Accounts Principles Of Accounts (2024 - No. 29)
Use the following information to answer this question.
GH¢
Trade creditors 1/1/2022 35,000
Payment to suppliers in 2022 30,000
Discounts received 1,800
Trade creditors 31/12/2022 24,000
The balance sheet as at 31/12/2022 will show current liability of
GH¢ 59,000.
GH¢ 24,000.
GH¢ 22,200.
GH¢ 1,000.
Explanation
The balance on the purchases control account at the end is the creditors balance that is shown in the balance sheet.
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