Categories: Accounting WAEC

Payment to creditors is?

Use the following information to answer this question

Creditors (01/01/19) 223,000
Creditors (31/12/19) 316,000
Credit purchases 1,426,000
Discount received 64,000
Company’s cheque dishonoured 90,000

 

A. ₦ 1,423,000
B. ₦ 1,359,000
C. ₦ 1,333,000
D. ₦ 1,295,000

Correct Answer:

Option C = ₦ 1,333,000

Sunday

Recent Posts

EME 405 Theory Questions: Management Accounting And Functions

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

3 hours ago

EME 405 Theory Questions: Basic Accounting Conventions

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

3 hours ago

EME 405 Theory Question: Qualities And Objectives Of Financial Accounting

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

3 hours ago

EME 405 Theory Question: Basic Accounting Conventions

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

3 hours ago

EME 405 Theory Questions: Budgeting Process in Nigerian Education ​​

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

3 hours ago

EME 405 Theory Question: Qualitative Factors in Decision Making

400 Level  Management Accounting In Education Practice exam questions and detailed answers. Download the answers in…

4 hours ago