Which of the following would be recognised as trade and other payables in the statement of financial position of a book publishing company? Please select all that apply.
A) Amounts due to a paper supplier.
B) Amounts due from a bookseller.
C) Amounts due to authors for royalties on books sold.
D) Amounts due to HM Revenue and Customs for taxes due on profits.
Topic: The accounting equation

Question

Quizplus · Accepted Answer

Amounts due to a paper supplier and amounts due to authors for royalties on books sold are both considered trade and other payables in the statement of financial position of a book publishing company.

Which of the Following Would Be Recognised as Trade and Other