Waec Model Questions Vol1 2021 Financial Accounting Question 11
Practice objective / multiple choice question 11 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The following trial balance was prepared for XYZ Ltd. (all figures in ₦): Cash Dr 180,000 Accounts Receivable Dr 70,000 Equipment Dr 250,000 Supplies Dr 40,000 Prepaid Rent Dr 20,000 Expenses Dr 90,000 Accounts Payable Cr 150,000 Capital Cr 250,000 Revenue Cr 240,000 It is later discovered that (i) a purchase of equipment on credit for ₦4,000 was recorded only on the debit side, and (ii) a cash receipt of ₦6,000 was recorded twice on the debit side. After correcting these errors, what should be the total of the debit side of the trial balance?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 11. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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