A business had an opening inventory of $180,000 and a closing inventory of $220,000 in its financial statements
for the year ended 31 December 2005.
Which of the following entries for these opening and closing inventory figures are made when completing the
financial records of the business?
Debit Credit
$ $
A Inventory account 180,000
Income statement 180,000
Income statement 220,000
Inventory account 220,000
B Income statement 180,000
Inventory account 180,000
Inventory account 220,000
Income statement 220,000
C Inventory account 40,000
 urchases account 40,000
D Purchases account 40,000
Inventory account 40,000
The following information is relevant for questions 24 and 25 B
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发表于 2008-4-27 19:32
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