Waec Model Questions Vol1 2018 Financial Accounting Question 18

Practice objective / multiple choice question 18 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2018 Financial Accounting Objective / Multiple Choice Medium Difficulty
Question 18 WAEC_MODEL_QUESTIONS_VOL1 • 2018 • FINANCIAL_ACCOUNTING • objective

The following trial balance is extracted from the ledgers. | Account | Dr (₦) | Cr (₦) | |------------------------|--------|--------| | Cash | 45,000 | | | Accounts Receivable | 30,000 | | | Inventory | 55,000 | | | Equipment | 80,000 | | | Accounts Payable | | 40,000 | | Notes Payable | | 70,000 | | Capital | |100,000 | | Sales Revenue | |120,000 | | Purchases | 90,000 | | | Rent Expense | 15,000 | | The total of the debit column is ₦315,000 and the total of the credit column is ₦330,000. What amount must be added to the debit side to make the trial balance balance?

Answer Options

A. 13000
Correct Answer B. 15000
C. 17000
D. 20000
Correct Answer
B
Correct Option:
15000

About This Question

This is Waec Model Questions Vol1 2018 Financial Accounting Question 18. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Medium .

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