Wrigley Ltd Uses Subsidiary Ledgers for Debtors and Creditors

question 21

Multiple Choice

Wrigley Ltd uses subsidiary ledgers for debtors and creditors.At 1 July 2015 debtors owed $7000 and creditors were owed $4000.Transactions for year ended 30 June 2016 were as follows:
- What was the balance of the debtors control account at 30 June 2016?

• A) $8300
• B) $9700
• C) $21 300
• D) $9000

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Definitions:

Petty Cash Fund

A small amount of cash on hand used for covering minor expenses in an organization.

Issue Resolution

The process of solving problems or addressing concerns, often used in customer service and technical support contexts.

Chain Of Command

The formal line of authority within an organization, detailing how orders are passed down from higher to lower ranks.

Diversity

Differences among people in terms of identity, age, sex, race, physical ability, ethnicity, religious beliefs, values and mores, sexual orientation, and personality.