Waec Model Questions Vol1 2017 Financial Accounting Question 9
Practice objective / multiple choice question 9 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The following trial balance extracts are given (amounts in naira): Debit side: Cash ₦45,000; Inventory ₦30,000; Equipment ₦60,000; Salaries Expense ₦25,000; ______ (unknown account).\nCredit side: Capital ₦100,000; Accounts Payable ₦20,000; Sales Revenue ₦40,000; Rent Revenue ₦10,000. If the total of the debit column must equal the total of the credit column, what is the balance of the unknown debit account?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 9. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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