Waec Model Questions Vol1 2017 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
During the month, the Purchases account was debited ₦120,000. Purchase Returns were credited ₦8,000 and Purchase Discount Received was credited ₦1,200. Later the merchant realized that a purchase of ₦5,000 had not been entered in Purchases and a purchase return of ₦2,000 had not been entered in Purchase Returns. After correcting these omissions, what is the net amount of purchases to be shown in the trial balance (i.e., Purchases - Returns - Discount Received)?
Answer Options
About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 12. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.