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Accounting Help - 2010 Q.4 - Creditors Control

cathalio11 · 2013-05-19 13:56:33

Hi guys, Just studying for some less important 5th year exams here and there is something in the marking scheme that I can not understand for this question. On the Schedule of Creditors Accounts Balances, why is 672 deducted for (vi). I keep trying and I just can't seem to get that figure out of it logically. No problems…

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19-05-2013 2:56pm

#1

cathalio11

Registered Users Posts: 1,608 ✭✭✭

Join Date: March 2011

Posts: 1581

Hi guys,

Just studying for some less important 5th year exams here and there is something in the marking scheme that I can not understand for this question.

On the Schedule of Creditors Accounts Balances, why is 672 deducted for (vi).

I keep trying and I just can't seem to get that figure out of it logically. No problems with the rest of the question.

Thanks in advance,

Cathal

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#2 19-05-2013 6:31pm
teach88

Closed Accounts Posts: 122 ✭✭

Join Date: April 2013

Posts: 112

It is the correct figure.

I would imagine that you're getting caught on "the total amount of this credit note was credited in the creditor's account". This means it is the 90% (€756) that is entered and not the 10% (€84).

Hope this solves the problem.

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