Waec Model Questions Vol1 2022 Financial Accounting Question 19
Practice objective / multiple choice question 19 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
The trial balance of ABC Ltd as at 31 December 2022 is shown below (all figures in Naira). Cash.........................Dr 45,000 Accounts Receivable........Dr 30,000 Inventory....................Dr 25,000 Equipment....................Dr 80,000 Purchases....................Dr 70,000 Rent Expense.................Dr 4,200 Drawings......................Dr ? Accounts Payable...........Cr 15,000 Capital......................Cr 100,000 Sales.........................Cr 120,000 Accumulated Depreciation....Cr 20,000 It is known that the Rent Expense figure contains a transposition error: the amount recorded (₦4,200) should have been ₦2,400. Determine the correct Rent Expense amount and the amount of Drawings that will make the trial balance balance.
Answer Options
About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 19. It is one of the objective questions from the 2022 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.