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Q4 The total of the list of balances in Adele’s payables ledger was $438900 at 30 June 2008. This balance did not agree with Adele’s payables ledger control account balance. The following errors were discovered:
(1) A contra entry of $980 was recorded in the payable ledger control account , but not in the payable ledger
(2) The total of the purchase returns journal was undercast by $1000
(3) An invoice for $4344 was posted to the supplier’s account as $4434
What amount should Adele report in its statement of financial position as accounts payable at 30 June 2008?
Why the answer is D , not A.
D is 438900-980-90=437830. But why (2) $1000 didn’t be deducted.
438900-980-1000-90? It is undercast.
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