A Company Has Four Vendors and the Accounts Payable Subsidiary

question 87

Multiple Choice

A company has four vendors and the accounts payable subsidiary ledger shows the following balances. $$\begin{array} { | l | r | } \hline \text { Alpha } & \$ 278,821 \\\hline \text { Beta } & 157,474 \\\hline \text { Gamma } & 83,943 \\\hline \text { Delta } & 44,187 \\\hline\end{array}$$ Calculate the accounts payable balance in the general ledger.

• A) $436,295
• B) $564,425
• C) $278,821
• D) $285,604

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Definitions:

U-bolts

Metal fasteners in the shape of the letter U, used to secure pipes or other round objects to surfaces.

Standard Costs

Costs that are predetermined on a per-unit basis. Standard costs are used as a benchmark for evaluating performance. These costs are often used in or are the output from the budgeting process.

Efficiency Losses

Reductions in economic well-being, reflected by the inability of a market to allocate resources optimally.

Standard Costs

The predetermined expenses for the production of a product or operation of a service, used as a baseline to measure performance.