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Zorluk: OrtaCalculation of Total Sales and Total Purchases

Kolawole Enterprises operates a business with incomplete financial records. For the year ended 31 December 2025, the following records were extracted from the business books:

- Creditors balance at 1 January 2025: ₦15,000
- Payments made to creditors during the year: ₦68,000
- Discount received from suppliers: ₦2,000
- Goods returned to suppliers (returns outwards): ₦3,000
- Creditors balance at 31 December 2025: ₦22,000
- Cash purchases made during the year: ₦18,000

What is the total purchases figure for Kolawole Enterprises for the year ended 31 December 2025?

  1. A
    ₦80,000
  2. B
    ₦88,000
  3. ₦98,000Cevap
  4. D
    ₦106,000

Cevap

The total purchases figure for the year is ₦98,000.
The correct answer (₦98,000) is determined by reconstructing the Total Creditors Control Account to find credit purchases, then adding cash purchases. Sum of debit entries in the creditors control account is ₦68,000 + ₦2,000 + ₦3,000 + ₦22,000 = ₦95,000. Subtracting the opening balance of ₦15,000 yields credit purchases of ₦80,000. Adding cash purchases of ₦18,000 yields ₦98,000.

Adım Adım Çözüm

1
Calculate credit purchases by preparing the Total Creditors Control Account.
Credit Purchases = ₦68,000 (Payments) + ₦2,000 (Discount Received) + ₦3,000 (Returns Outwards) + ₦22,000 (Closing Creditors) - ₦15,000 (Opening Creditors) = ₦80,000.
Debits to the Total Creditors Account include payments made, discounts received, returns outwards, and the closing balance. Deducting the opening credit balance gives the credit purchases for the period.
2
Calculate total purchases by adding cash purchases to credit purchases.
Total Purchases = Credit Purchases (₦80,000) + Cash Purchases (₦18,000) = ₦98,000.
Total purchases consist of all goods bought during the accounting period, whether paid for immediately in cash or acquired on credit.

Anahtar Kavram

Calculation of Total Purchases from Incomplete Records
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Calculation of Total Sales and Total Purchases

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