help with this question
katie_lau
Registered Posts: 4 New contributor 🐸
I have done my simulation exam yesterday. I still could not figure out the answers for three questions. Can someone help?
1, the company lost the purchases invoices and purchases ledger in the fire. the fire happens after the year end. we can't do the reconciliation for the bank. but they said the purchase is correct. how do you make sure that the purchases figure is correct?
2, the company's stock is partly damaged by fire. so how do we estimate the closing stock? if we can't use the way of sales, purchases, margin figures to calculate stock.
3, to find out why the sales ledger control account fingure has a difference with the sales ledger. there is a contra debited in the one customer's account in sales ledger. and it is credited in the sales ledger control account. I know it is on the wrong side. but why don't we correct it in the journal?
Many thanks
1, the company lost the purchases invoices and purchases ledger in the fire. the fire happens after the year end. we can't do the reconciliation for the bank. but they said the purchase is correct. how do you make sure that the purchases figure is correct?
2, the company's stock is partly damaged by fire. so how do we estimate the closing stock? if we can't use the way of sales, purchases, margin figures to calculate stock.
3, to find out why the sales ledger control account fingure has a difference with the sales ledger. there is a contra debited in the one customer's account in sales ledger. and it is credited in the sales ledger control account. I know it is on the wrong side. but why don't we correct it in the journal?
Many thanks
0
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