WAEC Accounting 2013 Objective — Question 20

Question 20 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.

Use the following information to answer questions 20 and 21. 1/6/2011 to 30/5/2012 (₦, as at 1/6/2011 and 30/5/2012) Creditors: 2,495 / 2,285 Debtors: 1,215 / 2,145 Cash paid to creditors: – / 32,170 Cash received from customers: – / 40,650 Goods returned to suppliers: – / 500 Purchases for the year is

A. ₦32,880
B. ₦32,780
C. ₦32,460Correct
D. ₦31,960

Explanation

Dr: Creditors control A/c; Cr side balances give purchases. Cash 32,170 + Goods returned 500 + Balance c/d 2,285 = 34,955; less Balance b/d 2,495 = Purchases 32,460.

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