The total of the list of balances in Valley's payables ledger was $438,900 at 30 June...
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The total of the list of balances in Valley's payables ledger was $438,900 at 30 June 20X6. This balance did not agree with Valley's payables ledger control account balance. The following errors were discovered: (1) A contra entry of $980 was recorded in the payables ledger control account, but not in the payables ledger. (2) The total of the purchase returns daybook was undercast by $1,000. (3) An invoice for $4,344 was posted to the supplier's account as $4,434. What amount should Valley report in its statement of financial position for accounts payable at 30 June 20X6? A $436,830 B $438,010 C $439,790 D $437,830 The total of the list of balances in Valley's payables ledger was $438,900 at 30 June 20X6. This balance did not agree with Valley's payables ledger control account balance. The following errors were discovered: (1) A contra entry of $980 was recorded in the payables ledger control account, but not in the payables ledger. (2) The total of the purchase returns daybook was undercast by $1,000. (3) An invoice for $4,344 was posted to the supplier's account as $4,434. What amount should Valley report in its statement of financial position for accounts payable at 30 June 20X6? A $436,830 B $438,010 C $439,790 D $437,830
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Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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