Solved

Gum Ltd Maintains Subsidiary Ledgers for Debtors and Creditors

Question 29

Multiple Choice

Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2015, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2016 were as follows:
Gum Ltd maintains subsidiary ledgers for debtors and creditors. At 1 July 2015, debtors owed $4000, and $7200 was owing to creditors. Transactions for year ended 30 June 2016 were as follows: What was the balance of the creditors control account at 30 June 2016? A) $5200 B) $5500 C) $6000 D) $9200
What was the balance of the creditors control account at 30 June 2016?


A) $5200
B) $5500
C) $6000
D) $9200

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q1: The Allowance for doubtful debts account would

Q1: K Ltd reported beginning and ending balances

Q6: At year end Dodgy Ltd had a

Q11: Which of these items is the source

Q12: At year end Dodgy Ltd had a

Q14: Which of the following statements about subsidiary

Q15: Which of the following statements about the

Q19: The trial balance of Anderson Ltd included

Q25: Which of the following is NOT a

Q28: The trial balance of Wentworth Ltd included