Gce Model Questions Vol1 2019 Financial Accounting Question 21
Practice objective / multiple choice question 21 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
During the preparation of a trial balance, the total debits amount to \(\text{₦}452{,}000\) and the total credits amount to \(\text{₦}447{,}000\). Two adjusting entries are then posted: (i) Accrued salaries of \(\text{₦}3{,}200\) (debit Salaries Expense, credit Salaries Payable) and (ii) Prepaid rent of \(\text{₦}1{,}500\) (debit Prepaid Rent, credit Rent Expense). After these entries the trial balance still does not balance. It is discovered that a single entry was mistakenly recorded as a debit to the Purchases ledger when it should have been a credit. Determine the amount of that erroneous entry.
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 21. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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