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WAEC Financial Accounting 2026 Question 44

Question 44

Control Accounts

Use the following information to answer questions 43 and 44.
The transactions for a retail business for April 2024 were:
Credit purchases: $3,560
Returns outwards: $500
Cheque paid to suppliers: $2,400
The amount payable to suppliers at the end of April 2024 is

  1. A.$1,160
  2. B.$1,140
  3. C.$880
  4. D.$660
Show the answer and explanation

Answer: D ($660)

Explanation

3,560 − 500 − 2,400 = $660 still owed.