Lucy bought a computer for £800, and some ink cartridges for £50 to be used in the business. Both of these amounts were debited to the purchases account.
What was the effect of this error on the income statement for the year?
Select ONE answer:
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 2
- Not correct
- Correct – computer should be NCA & ink cartridges should be Expenses
- Not correct
- Not correct
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