Solved

Up and Away Unlimited Provides the Following Information for the Period

Question 31

Multiple Choice

Up and Away Unlimited provides the following information for the period ended 30 June 2014:
$0 Cost of goods sold for the year 450 Discounts received for early payment to suppliers 25 Opening balance of trade creditors 210 Closing balance of trade creditors 240 Opening balance of inventory 111 Closing balance of inventory 130\begin{array} { | l | r | } \hline & \$ 0 \\\hline \text { Cost of goods sold for the year } & 450 \\\hline \text { Discounts received for early payment to suppliers } & 25 \\\hline \text { Opening balance of trade creditors } & 210 \\\hline \text { Closing balance of trade creditors } & 240 \\\hline \text { Opening balance of inventory } & 111 \\\hline \text { Closing balance of inventory } & 130 \\\hline\end{array}
What is the cash paid to suppliers for the period?


A) $376 000
B) $415 000
C) $474 000
D) $426 000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents