• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

Reconciliation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Reconciliation

  • 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
  • August 28, 2024 at 2:39 pm #710460
    Crimsn10i
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Zeta issued a statement to one of its customers, Portofino Co for the month of July 20X4. At
    31 July 20X4, the payable ledger account for Zeta maintained by Portofino Co had a balance
    of $7,672. A review of Portofino Co’s payable ledger account for Zeta and the supplier statement
    revealed the following differences:
    1 Portofino Co had not yet recorded a purchase invoice from Zeta for goods which cost
    $435.
    2 Portofino Co made an automated payment of $1,506 on 30 July 20X4 which was not
    recorded on the statement.
    What was the closing balance on the statement issued by Zeta?
    A $9,178
    B $5,731
    C $9,613
    D $6,601

    Please what is the correct answer? The answers say 8107, but that is not an option. Is that the right answer?

    August 28, 2024 at 5:01 pm #710468
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54716
    • ☆☆☆☆☆

    The balance in Portofino’s books as owing to Z is 7672 + 435 =8107

    However, given that the statement issued by Zeta does not show the 1506 paid by Portofino, the statement will show a balance of 8107 + 1506 =9 613 (which is answer C)

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • Nvkt@25 on How to make the best use of OpenTuition
  • @zeba.aida on How to make the best use of OpenTuition
  • Myo94 on ACCA BT Chapter 20 – Marketing – Questions
  • siu18 on Professionalism, ethical codes and the public interest – ACCA Strategic Business Leader (SBL)
  • aashikahamed on CIMA P2 Chapter 1 Test

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in