Solve correct value of creditors to be reported on mark

Reference no: EM132724951

At 31 October the balance on the payables control account in Mark's general ledger is $79,850 and the total of the list of balances on the personal accounts is $79,310. Mark has discovered that the difference is because a payment for $60 was entered correctly in the day book but was recorded as $600 on the supplier's account.

Problem 1: Calculate the correct value of creditors to be reported on Mark statement of financial position at 31 October.

Reference no: EM132724951

Questions Cloud

What purposes a bsc can serve for a manager : Describe the four dimensions that are measured in a balanced scorecard (BSC). Explain what purposes a BSC can serve for a manager.

New opportunities in community settings : Community based nursing has new opportunities in community settings. The rationale for these opportunities is the change in demographics,

Determine total borrowing cost capitalized by GCQ Company : GCQ borrowed P10,000,000 at 11% to finance the construction of another building for its own use. Determine total borrowing cost capitalized by GCQ Company

Profitability index for a net present value of benefits : What is the profitability index for a Net Present Value of benefits totaling $250,000 and Net Present Value of costs totaling $150,000?

Solve correct value of creditors to be reported on mark : Mark's general ledger is $79,850. Calculate the correct value of creditors to be reported on Mark statement of financial position at 31 October.

Explain about two foreign companies present in jamaica : Explain about Two foreign Companies present in Jamaica. Their story and experience.

Make a memo presenting the issues and the risks associated : Make a memo presenting the issues and the risks associated with consultants. Further, outline a set of procedures that could be used as a guide

Difference between conductive and convective heat transfer : Explain the reason for having a grounding wire on portable power tools. Explain the difference between conductive and convective heat transfer.

Strategy formulation process of an organization : Explain why environmental analysis is considered to be an important activity for the strategy formulation process of an organization.

User Account

All Pages