Gce Model Questions Vol1 2018 Financial Accounting Question 42
Practice objective / multiple choice question 42 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
A trial balance shows a total debit balance of \( \text{₦}250,000 \) and a total credit balance of \( \text{₦}240,000 \). It is known that one transaction of \( \text{₦}15,000 \) was recorded on the wrong side (debit instead of credit) and another transaction was omitted entirely. What is the amount of the omitted transaction required to bring the trial balance into balance?
Answer Options
About This Question
This is Gce Model Questions Vol1 2018 Financial Accounting Question 42. It is one of the objective questions from the 2018 Gce 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.