Paper 2 · Club accounts and bank reconciliation

Wisdom Golf Club's Bar Creditors (Accounts Payable) Account for 2009 opened with a balance of $600, recorded a$ 800 payment to bar creditors during the year, and closed with a balance of $1 100. What were the club's credit purchases of bar stock for the year?

A$600

B$800

C$1 300

D$1 500

Explanation: Closing balance

1 100 + payments made

800 - opening balance

600 = credit purchases of

1 300.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, June 2014, Q2

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