Day: November 29, 2023

An extract from a Alex Trading Ltd’s trial balance is shown below:

• Accounts Receivables control account – debit balances – DR £225,000
• Accounts Receivables control account – credit balances – CR£2,800
• Accounts Payables control account – debit balances – £3,200
• Accounts Payables control account – credit balances – £261,000
• Investment in another company – £12,000

How much should be shown as Accounts Receivables in the company’s financial statements?

Select ONE answer:

1. £222,200
2. £228,200
3. £237,400
4. £240,200

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

1. Not correct
2. Correct – £225,000 + £3,200
3. Not correct
4. Not correct

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