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Question 3.14 – page19 from BPP kit

This topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.

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November 22, 2019 at 3:45 pm #553467
konichan
Member
- Topics: 12
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I saw balance c/d $11,900 on debit side => so the opening balance for trade payable for the 1st Oct is blance b/d $11,900 on credit side => so that I choose D
But the answer is B, Could you please explain for me?
November 23, 2019 at 10:56 am #553505
John Moffat
Keymaster
- Topics: 57
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The question asks for the balance on 1 October 20X0 (not 1 October 20X1).
Therefore it is asking for the opening balance on the t-account which is a credit balance of 14,000.
November 23, 2019 at 2:36 pm #553525
konichan
Member
- Topics: 12
- Replies: 7
I got it. I didn’t read carefully the question
Thank you, Sir
November 23, 2019 at 3:45 pm #553532
John Moffat
Keymaster
- Topics: 57
- Replies: 54674
You are welcome 🙂
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