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Calculation error in the Book

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Calculation error in the Book

  • This topic has 1 reply, 2 voices, and was last updated 11 months ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 29, 2024 at 4:38 am #708935
    ncell
    Participant
    • Topics: 27
    • Replies: 4
    • ☆

    Wrist Co had a balance of $450 on the payable ledger account of one of its suppliers. On reviewing the statement issued by the supplier, Wrist Co identified the following:
    • Wrist Co had not yet recorded an invoice for $60 issued by the supplier.
    • Cash in transit of $253 has not been received and recorded by the supplier.
    When these issues are resolved, the reconciliation between the payable ledger account balance and the supplier statement will be complete. What was the balance on the supplier statement?
    A $823
    B $643
    C $510
    D $257
    Answer in the Book : D
    I am not convinced with the answer in the book. The answer should be $763 which in not in the option. Please kindly explain this sir.

    July 29, 2024 at 10:04 am #708946
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Yes, the answer should be $763 and the answer in your book is wrong.

    Again, what book are you using??

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